Laurin Limited purchased equipment on October 8, 2021, at a cost of $368,000. Laurin’s management estimated that the equipment would have a useful life of four years and a residual value of $41,600. At the beginning of 2024, Laurin’s management determined that the equipment would be used for three more years (including all of 2024), and at the end of this time the equipment’s residual value would be $36,800. The company ended up selling the equipment on August 28, 2025, for $105,000. Laurin uses the straight-line method of depreciation and has a December 31 year end.

Required
Give the necessary journal entries for the acquisition, depreciation, and disposal of this asset for the years 2021, 2024, and 2025.