Stan's Lumber Mill sold two pieces of equipment in 2017. The following information pertains to the two pieces of equipment: Purchase Useful Salvage Depreciation Sales Cost Date Life Value Method Date Sold Price #1 $86,000 7/1/13 5 yrs. $6,000 Straight-line 7/1/17 $20,000 #2 $95,000 1/1/16 5 yrs. $5,000 Double-declining 12/31/17 $37,000 -balance

Instructions (a) Compute the depreciation on each piece of equipment from the purchase date to the date of disposal (make a schedule - showing each year & each piece of equipment separately) (b) Prepare the journal entries in 2017 to record 2017 depreciation and the sale of each piece of equipment.