Wildhorse Company owns equipment that cost $$83,000$ when purchased on January $1,2019.$ It has been depreciated using the straight$-$line method based on an estimated salvage value of $$23,000$ and an estimated useful life of $5$ years.

Prepare Wildhorse Company's journal entries to record the sale of the equipment in these four independent situations. $($Credit account titles are outomatically indented when amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.$)$

$($a$)$ Sold for $$48,000$ on January $1,2022.$

$($b$)$ Sold for $$48,000$ on May $1,2022$

$($c$)$ Sold for $$22,000$ on January $1,2022.$

$($d$)$ Sold for $$22,000$ on October $1,2022.$

No$.$ Account Titles and Explanation

Debit

Credit

$($a$)$

Accumulated Depreciation$-$Equipment

$36000$

Gain on Disposal of Plant Assets

Equipment

$($b$)$

Depreciation Expense

$$

$$

Accumulated Depreciation$-$Equipment

$($To record depreciation$)$

$$

$$

$$

$$

$$

Gain on Disposal of Plant Assets

$$

$$

$$

$($To record sale of equipment$)$

$($c$)$

$$

$$

Accumulated Depreciation$-$Equipment

Loss on Disposal of Plant Assets

$$

$$

$$

$($d$)$

$$

$$

Accumulated Depreciation$-$Equipment $$

$$

$($To record depreciation$)$

$$

$($To record sale of equipment$)$