Vineyard Company sold the following two pieces of equipment in 2022:

Equipment A

Equipment B

Cost$116,000

$63,000Purchase date7/1/181/1/19Useful life8 years5 yearsSalvage value$4,000$3,000Depreciation methodStraight-line

Straight-line

Date sold7/1/229/1/22Sales price$49,000$20,000

Indicate the accounts required to be increased/decreased to update depreciation and record the sales of the two assets in 2022. The company has recorded depreciation on the equipment through December 31, 2021.

Equipment A

Date

Account Titles and Explanation

Increase/Decrease

Amount

July 1

enter an account title to record depreciation on July 1

select an option

Increase

Decrease

$

enter a dollar amount

enter an account title to record depreciation on July 1

select an option

Increase

Decrease

$

enter a dollar amount

(To record depreciation)

enter an account title to record the sale of asset on July 1

select an option

Increase

Decrease

$

enter a dollar amount

enter an account title to record the sale of asset on July 1

select an option

Increase

Decrease

$

enter a dollar amount

enter an account title to record the sale of asset on July 1

select an option

Increase

Decrease

$

enter a dollar amount

enter an account title to record the sale of asset on July 1

select an option

Increase

Decrease

$

enter a dollar amount

(To record the sale of asset)

Equipment B

Date

Account Titles and Explanation

Increase/Decrease

Amount

Sept. 1

enter an account title to record depreciation on Sept. 1

select an option

Increase

Decrease

$

enter a dollar amount

enter an account title to record depreciation on Sept. 1

select an option

Increase

Decrease

$

enter a dollar amount

(To record depreciation)

enter an account title to record the sale of asset on Sept. 1

select an option

Increase

Decrease

$

enter a dollar amount

enter an account title to record the sale of asset on Sept. 1

select an option

Increase

Decrease

$

enter a dollar amount

enter an account title to record the sale of asset on Sept. 1

select an option

Increase

Decrease

$

enter a dollar amount

enter an account title to record the sale of asset on Sept. 1

select an option

Increase

Decrease

$

enter a dollar amount

(To record the sale of asset)