The following three accounts appear in the general ledger of Pronghorn Corp during 2017 Equipment Date Debit Credit Balance Jan. 1 Balance 398,560 July 31 Purchase of equipment 174,370 572,930 Sept.2 Cost of equipment constructed 132,023 704,953 Nov. 10 Cost of equipment sold 122,059 582,894 Accumulated Depreciation-Equipment Date Debit Credit Balance Jan. 1 Balance 176,861 Nov. 10 Accumulated depreciation on equipment sold 39,856 137,005 Dec. 31 Depreciation for year 69,748 206,753 Retained Earnings Date Debit Credit Balance Jan. 1 Balance 261,555 Aug. 23 Dividends (cash) 34,874 226,681 Dec. 31 Net income 179,352 406,033 The following three accounts appear in the general ledger of Pronghorn Corp during 2017 Equipment Date Debit Credit Balance Jan. 1 Balance 398,560 July 31 Purchase of equipment 174,370 572,930 Sept.2 Cost of equipment constructed 132,023 704,953 Nov. 10 Cost of equipment sold 122,059 582,894 Accumulated Depreciation-Equipment Date Debit Credit Balance Jan. 1 Balance 176,861 Nov. 10 Accumulated depreciation on equipment sold 39,856 137,005 Dec. 31 Depreciation for year 69,748 206,753 Retained Earnings Date Debit Credit Balance Jan. 1 Balance 261,555 Aug. 23 Dividends (cash) 34,874 226,681 Dec. 31 Net income 179,352 406,033