the equipment has only two more years of remaining usetul life. Compute the equipment's book value at the end of its first year: 1(b). Assume the company uses straight-ine depreciation for the equipment. At the beginning of the second year, we determine that the equipment has only two more years of remaining useful life. Compute the depreciation for the second year given the revised useful life ostimate. 2. At the end of the equipment's useful life, the-company plans to sell it. Record the sale of equipment at the end of its useful life for (a) $12,000 cash and (b) $6,000 cash. Complete this question by entering your answers in the tabs below. Assume the company uses straight-line depreciation for the equipment, At the beginning of the second year, we determine that the equipment has only two more years of remaining useful life, Compute depreciation for the second year given the revised useful life estimate. At the end of the equipment's useful tife, the company plans to sell it. Record the sale of equipment at the end of its useful life for (a) $12,000 cash and (b) $6,000 cash. Journal entry workshet Record the sale of equipment at the end of its useful life for $12,000 cash. Note: Enter debits before credits