Working Note Please,

On March 31, 2019, MSB Company sold office equipment for $10,000. The equipment was purchased on September 30, 2016, for $40,000. The asset was being depreciated over a four-year life using the straight-line method, with depreciation based on months in service. No residual value was anticipated. Required: 1. Prepare the journal entry to record 2019 depreciation Cost Service life (years) Depreciation per year Portion of year outstanding Depreciation expense Journal Entry - March 31, 2019 2. Prepare the journal entry to record the sale of the equipment. Cost Service life (years) Depreciation per year Years in service Accumulated depreciation Gain (Loss) Journal Entry - March 31, 2019