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Faster Company purchased equipment in 2010 for $104,000 and estimated an $8,000 salvage value at the end of the equipment's 10-year useful . At December 31, 2016, there was $67,200 in the Accumulated Depreciation account for this equipment using the straight-line method of depreciation. On March 31, 2017, the equipment was sold for $21,000 Prepare the appropriate journal entries to remove the equipment from the books of Faster Company on March 31, 2017. (Credit accountries are automatically when the entered. Do not indent manually. If no entry is required, select "No Entry for the account tries and enter for the amounts) No. Account Titles and Explanation Debit Credit (To record depreciation expens for the first 3 months of 2017) (to record sale of equipment) Lewis Company sold equipment for $11,000. The equipment originally cost $25,000 in 2014 and $6,000 was spent on a major overhaul in 2017 (charged to the Equipment account). Accumulated Depreciation on the equipment to the date of disposal was $20,000 Prepare the appropriate journal entry to record the disposition of the equipment. (Credit account ties are automatically indented when the amount is entered. Do not indent ma no entry is required, select "No Entry" for the account tities and enter for the amounts.) y Account Titles and Explanation Debit Credit Selby Company sold equipment that had a book value of $13,500 for $15,000. The equipment originally cost $45,000 and it is estimated that it would cost $57,000 to replace the equipment. Prepare the appropriate yournal entry to record the disposition of the equipment. (Credit accountries are automatically indented when the amount is entered Do not indent mana no entry is required, select "No Entry for the account tities and enter for the amounts Account Tities and Explanation Credit

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