Question 25 Sunland Co purchased equipment on March 1, 2019 for $92,500 an account. The equipment had an estimated useful le of five years, with a residual value of $5,000. The que disposto co February 1, 2022. Surland 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 Record the acquisition of the equipment on March 1, 2019. (Credit account titles are automatically indented when the amount interest. De not indent manually. If he entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit (To record purchase of equipment on account) SHE US OF ALCOUNTS Record deprecation at August 31, 2019, 2020, and 2021 (Credit account titles are automatically indented when the amount is entered. Do not indent many. In try art select "No Entry for the scent titles and enter for the amounts.) 2019 Date Account Titles and Explanation Debit Credit Aug 1 To record depreciation expense.) FREIN Record the disposal on February 1, 2022, under the following assumptions: (Credit account titles are automatically indented where the amount interes. Det indentally Ice entry is required, select "No Entry for the account titles and enter for the amounts.) 1. It was scrapped with no residual value. 2. It was sold for 353,410 3. It was sold for $43,820 4. It was traded for new equipment with a list price of $93,750, Sunland was given a trade in allowance of $49,750 on the old equipment and and the balance in ath Surland dead the equipment's fair value to be 545,970 at the date of the exchange Debit Credit Date Account Titles and Explanation 2072 FED (Ta record depreciation expense) 1. Feb. 1 (To record disposal 2. Feb To record disposal. 3. Feb. 1 (To record disposal.) 4. Feb. 1 (To record disposal.)