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PLEASE HELP Slossom Company owns equipment...

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Accounting

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Slossom 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 value of $6,000 and an estimated useful life of five years. Following are the four independent situations. (a) Prepare Blossom Company's journal entry to record the sale of the equipment for $56.500 on January 2. 2027. (Credit account tities are automaticolly indented when the omount is entered, Do not indent manuolly. If no entry is required, select "No Entry" for the occount tities and enter 0 for the amounts. List all debit entries before credit entries.)

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