The SOS company bought equipment for $300,000 at the beginning of an accounting year (01/02/2010). The equipment is depreciated to a residual value of $50,000 using straight- line depreciation. The depreciation life of the equipment is 5 years. The equipment is sold in 2 years and 4 months for $20,000. The accounting period is one year. Enter answers to the nearest whole number no decimal places or "$" signs. - Complete journal entries to update depreciation (since the end of last accounting period) to date of sale on 03/31/2012. Description Description Debit Credit Depreciation I Accumulated Depreciation