Two: (5 Points) Equipment acquired on January 1, 2006, is sold on September 30, 2009, for $11,200. The equipment cost $26,800, had an estimated residual value of $6,800, and an estimated useful life of 5 years. The company prepared financial statements on December 31, and the equipment has been depreciated using the straight line method. Required: 1. Record the depreciation expense (adjusting entry) of the equipment for year 2008. 2. Record the depreciation expense (adjusting entry) of the equipment for year 2009. 3. How much the accumulated depreciation in year 2007. 4. How much the book value of the equipment at the end of year 2006. 5. Record the sale of the equipment (show calculations)