Shown below are the T$-$accounts relating to equipment that was purchased for cash by a company on the first day of the current year. The equipment was depreciated on a straight$-$line basis with an estimated useful life of $10$ years and a salvage value of $$212.$ Part of the equipment was sold on the last day of the current year for cash proceeds.

Dec. $31$

$($b$)$

Loss on Disposal of Plant Assets

Dec. $31$

$($c$)$

$($a$)$

Prepare the journal entries to record purchase of equipment on January $1.($List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date Account Titles and Explanation

Jan. $1$

Debit

Credit

What was the cash paid?

Cash paid

$

$($b$)$

Prepare the journal entry to record depreciation recorded on December $31.($List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

$\backslash$table$[[$Date$,$Account Titles and Explanation,Debit,Credit$],[$Dec$.31,,,]]$

What was the depreciation expense?

Depreciation expense

$($c$)$

Next question

Prepare the journal entry to record sale of part of the equipment on December $31.($List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

Date Account Titles and Explanation

Debit

Credit

Dec. $31$

What was the loss on disposal?

Loss on disposal

$