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Asset Disposal A that connet Cortipany purchased a set on January 1, 2015, for $63.600. The asset had an estimated te of years and an estimated residual value of $6,00. The company used the straight-line method to depreciate the asset. On Jul 1, 2017, the set was sold for $43.070 Required: 1. Identify and analyse the effect of the transaction for depreciation for 2017 Activity Accounts Statements) How does this entryffect the accounting equation is financial statement is not affected to try and have the mount to the effect on financiamentom is negative, decrease, be sure to enter the answer with a minus sign. Remember a contra account is increased, it will have the effect of decreasing the corresponding financial statement item Balance Sheet Income Statement Stockholders' Asseta Liabilities Revenues Expenses Identity and analyze the effect of the sale of the asset Activity Accounts Statement How does this entry affect the countington if a financial statement item is not affected, select "Ne Entry and leave the amount box blank. If the effect on a financial statement item is negative. La decrease be sure to enter the answer with a mission. Remember a contra account is increased it will have the effect of de the corresponding financial statement item Balance sheet Income statement

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