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b. $322,500 SHOW ME EX 9-18 Disposal of fixed asset Obj. 3 Equipment acquired on...

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Accounting

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b. $322,500 SHOW ME EX 9-18 Disposal of fixed asset Obj. 3 Equipment acquired on January 6 at a cost of $375,000 has an estimated useful life of 20 years and an estimated residual value of $25,000. a. What was the annual amount of depreciation for Years 1-3 using the straight-line method of depreciation? b. What was the book value of the equipment on January 1 of Year ? C. Assuming that the equipment was sold on January 3 of Year 4 for $300,000, journalize the entry to record the sale. d. Assuming that the equipment had been sold on January 3 of Year 4 for $325,000 instead of $300,000, journalize the entry to record the sale

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