Blossom Co purchased equipment on March 1, 2019, for $130,000 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. Blossom 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. Your answer is correct. Record depreciation at August 31, 2019, 2020, and 2021. (Credit account titles are automatically indented when the entry is required, select "No Entry" for the account titles and enter o for the amounts.) 2019 Date Account Titles and Explanation Debit Credit Aug 31 Depreciation Expense Accumulated Depreciation (To record depreciation expense.) 2020 Date Account Titles and Explanation Debit Credit Aug. 31 Depreciation Expense Accumulated Depreciation (To record depreciation expense.) 2021 Debit Date Account Titles and Explanation Aug. 31 Depreciation Expanse Credit x Record the disposal on February 1, 2022, under the following assumptions: (Credit account titles are automatically inc 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 $73,360. 3. It was sold for $63,470. 4. It was traded for new equipment with a list price of $97,500. Blossom was given a trade-in allowance of $53,500 on the determined the old equipment's fair value to be $65,620 at the date of the exchange. Date Account Titles and Explanation Debit Credit 2022 E Feb. 1 (To record depreciation expense