Paris Company purchased equipment on January 1, 1994, for $25,000. The estimated useful life of the equipment is five years, the salvage value is $5,000, and the company uses the dou¬ ble-declining-balance method to depreciate fixed assets. REQUIRED:

a. Provide the journal entry if the equipment is scrapped after three years.

b. Provide the journal entry if the equipment is scrapped after five years.

c. Provide the journal entry if the equipment is sold for $8,000 after three years.

d. Provide the journal entry if, at the end of the fifth year, the equipment and $28,000 cash are traded in for a dissimilar asset with an objectively determined FMV of $30,000.