Equipment acquired on January 8 at a cost of $163,700, has an estimated useful life of 16 years, has an estimated residual value of $9,300, and is depreciated by the straight-line method. a. What was the book value of the equipment at December 31 the end of the fourth year? $ 125,100 Feedback b. Assuming that the equipment was sold on April 1 of the nth year for 117,352. 1. Journalize the entry to record depreciation for the three months until the sale date. Round your answers to the nerest whole dollar If required. Depreciation Expense-Equipment 2,413 Accumulated Depreciation Equipment 2,413 Feedback 2. Journalize the entry to record the sale of the equipment. If an amount box does not require an entry, leave it blank. Do not round Intermediate calculations. Cash o Accumulated Depreciation Equipment 117,352 119,765 x Loss on Sale of Equipment Equipment 81,165 o 163,700
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