Sunland Co. purchased equipment on March 1, 2019, for $92,500 on account. The eq on February 1, 2022. Sunland Co. uses the diminishing-balance method of depreciatic August 31 year end. Record the acquisition of the equipment on March 1, 2019. (Credit account titles a required, select "No Entry" for the account titles and enter o for the amounts Date Account Titles and Explanation Debit Mar. 1 Equipment 92500 cash (To record purchase of equipment on account.) SHOW LIST OF ACCOUNTS Record depreciation at August 31, 2019, 2020, and 2021. (Credit account titles ar select "No Entry" for the account titles and enter 0 for the amounts.) 2019 Date Account Titles and Explanation Debit Cre Aug. 31 Depreciation Expense 8750 Sunland Co. purchased equipment on March 1, 2019, for $92,500 on account. The equipment had an estimated useful life of five years, with a residual value of $5,000. The equipment is disposed of on February 1, 2022. Sunland Co. uses the diminishing-balance method of depreciation with a 20% rate and calculates depreciation for partial periods to the nearest month. The company has an August 31 year end. Record the acquisition of the equipment on March 1, 2019. (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 o for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 1 Equipment 92500 cash (To record purchase of equipment on account.) 925001 SHOW UST OF ACCOUNTS Record depreciation at August 31, 2019, 2020, and 2021. (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 o for the amounts.) 2019 Credit Debit Date Account Titles and Explanation Aug 31 Depreciation Expense 8750 8750 Accumulated Depreciati (To record depreciation expense.) Versin424.2001 FULL SCREEN Record depreciation at August 31, 2019, 2020, and 2021. (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 o for the amounts.) PRINTEN VERSION CRACK NEXT 2019 Debit Credit Date Account Tities and explanation Aug 31 Depreciation Expense Accumulated Depreciati (To record depreciation expense.) 8750 8750 2020 Debit Credit 15750 Date Account Titles and Explanation Aug 31 Depreciation Expense Equipment (To record depreciation expense.) 15750 2021 Debit Credit Date Account Tities and Explanation Aug 31 Depreciation Expense 12600 12600 Equipment (To record deprecation expense.) FULL SCREEN PRINTER VERSION 2. Feb. 1 Cash Accumulated Depreciation Loss on Disposal Equipment (To record disposal.) 3. Feb. 1 Cash Accumulated Depreciation Equipment Gain on Disposal (To record disposal.) 4. Feb. 1 Cash Accumulated Depreciation Loss on Disposal Equipment (To record disposal.) FULL SCREEN PRINTER VERSION BACK Record the disposal on February 1, 2022, under the following assumptions: (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 o for the amounts.) 1. It was scrapped with no residual value. 2. It was sold for $53,410. 3. It was sold for $43,820. 4. It was traded for new equipment with a list price of $93,750, Sunland was given a trade-In allowance of $49,750 on the old equipment and paid the balance in cash. Sunland determined the old equipment's fair value to be $45,970 at the date of the exchange. Date Account Titles and Explanation 2022 Feb. 1 Depreciation Expense Debit Credit 4200 L Equipment (To record depreciation expense.) 4200 1. Feb. 1 Accumulated Depreciation 51200 Loss on Disposal Equipment (To record disposal.) 51200 2. Feb. 1 Cash Accumulated Depreciation Loss on Disposal