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Sony understand very well EX 10-18 Disposal of fixed asset OBJ. 3 Equipment acquired on January 6 at a cost of $401,300 has an estimated

Sony understand very well

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EX 10-18 Disposal of fixed asset OBJ. 3 Equipment acquired on January 6 at a cost of $401,300 has an estimated useful life of 18 years and an estimated residual value of $25,100. a. What was the annual amount of depreciation for Years 1-3 using the straight-line method of depreciation? b. What was the book value of the equipment on January 1 of Year 3? c. Assuming that the equipment was sold on January 3 of Year 4 for $315,000, journalize the entry to record the sale. d. Assuming that the equipment had been sold on January 3 of Year 4 for $342,000 instead of $315,000, journalize the entry to record the sale

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