3.Prepare the journal entry for each transaction to record the sale of an asset. a.Company XYZ owns equipment that costs $100,000, with an accumulated depreciation of $40,000. Company XYZ sells the equipment for cash. Record the sale of the equipment assuming XYZ sells the equipment for $60,000. (You may or may not need to use all debit and credit lines.) Debit Debit Credit Credit b.Company XYZ owns equipment that costs $100,000, with an accumulated depreciation of $40,000. Company XYZ sells the equipment for cash. Record the sale of the equipment assuming XYZ sells the equipment for $50,000. (You may or may not need to use all debit and credit lines.) b.Company XYZ owns equipment that costs $100,000, with an accumulated depreciation of $40,000. Company XYZ sells the equipment for cash. Record the sale of the equipment assuming XYZ sells the equipment for $50,000. (You may or may not need to use all debit and credit lines.) Debit Debit $ Debit Credit Credit Credit 4. Company DEF purchases and installs a piece of equipment in its