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PLEASE HELP Blossom Company owns equipment that cost...

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Accounting

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Blossom Company owns equipment that cost $126.000 when purchased on January 2. 2024. It has been depreciated using the straight-line method based on estimated residual yalue of $6,000 and an estimated useful life of five years. Following are the fourindependent situations (a) Your answer is correct Prepare Blossom Company's journal entry to record the sale of the equipment for 556,500 on January 2, 2027. (Credit account titles are outomatically indented when the amount is entertd Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts. Ust all debit entries before ciedit entries) Prepare Blossom Company's journal entry to record the sale of the equipment for $56,500 on May 1, 2027. (Credit account titles are outomaticolly indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the occount titles and enter O for the amounts. List all debit entries before credit entries)

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