The balance sheets of Tully Corp. showed the following at December 31, 2020, and 2019: December 31, 2020 December 31, 2019 Equipment, less accumulated depreciation of $109,400 at December 31, 2020, and $68,375 at December 31, 2019. $ 76,200 $117, 225 Required: a. If there have not been any purchases, sales, or other transactions affecting this equipment account since the equipment was first acquired, what is the amount of depreciation expense for 2020? b. Assume the same facts as in part a, and assume that the estimated useful life of the equipment is four years and the estimated salvage value is $21,500. Determine: 1. What the original cost of the equipment was. 2. What depreciation method is apparently being used. 3. When the equipment was acquired. c. Assume that the equipment is sold on December 31, 2020, for $64,100. Prepare the horizontal model and record the journal entry for the sale of the equipment. Indicate the financial statement effect. Complete this question by entering your answers in the tabs below. Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Required B3 Required c1 Required C2 If there have not been any purchases, sales, or other transactions affecting this equipment account since the equipment was first acquired, what is the amount of depreciation expense for 2020? Depreciation expense Required A Required B1 > Complete this question by entering your answers in the tabs below. Required A Required B1 Required B2 Required B3 Required C1 Required C2 Assume that the equipment is sold on December 31, 2020, for $64,100. Prepare the horizontal model for the sale of the equi Balance Sheet Liabilities Assets Stockholders' Equity - + + f Required A Required B1 Required B2 Required B3 Required C1 Required C2 Assume that the equipment is sold on December 31, 2020, for $64,100. Record the journal entry for the sale of the equipme entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 > Record the sale of the equipment. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general Journal