Vogel Manufacturing has a December 31 year end and uses the straight-line method for depreciating its equipment and the double-diminishing-balance method for its trucks. Vogel began 2021 with a single piece of equipment that had been purchased on January 1, 2020, for $255,000 and a truck that had been purchased on January 1, 2019, for $148,000. When the equipment was purchased, Vogel's management had estimated that it would have a residual value of $15,000 and a useful life of five years. When the truck was purchased, management determined that it would have a useful life of four years and a residual value of $26,700.

On November 21, 2021, Vogel sold the piece of equipment for $151,000 cash. The company purchased replacement equipment on November 26 for $389,000 cash. Vogel's management determined that the new piece of equipment would have a useful life of four years and a residual value of $29,000.

Prepare all necessary journal entries for the year ended December 31, 2021.