Entries for Sale of Fixed Asset. Equipment acquired on January 8 at a cost of...
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Entries for Sale of Fixed Asset. Equipment acquired on January 8 at a cost of $168,000 has an estimated useful ife of 18 years, has an estimated residual value of $15,000, and is depreclated by the straighteline method. a. What was the book value of the equipment ot December 31 the end of the fourth year? Feetare poeck by wor. b. Assume that the equipment was sold on April 1 of the fith year for $125,000. 1. Iournalize the entry to record depreciation for the three monthe until the sale date. If an amount box does not require an entry, leave it blank. \begin{tabular}{|c|} \hline \\ \hline \\ \hline \\ \hline \\ \hline \\ \hline \end{tabular} towitise 2. Joumalize the entry to record the sale of the equipment. If an amount box does not require an entry, leave it blank
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