Part A Presented below are selected transactions for the Lindor Company Jan. 1 Retired a piece of machinery that was purchased on January 1, 2011. The machine cost $95,000 on that date, and had a useful life of 10 years with no salvage value. June 30 Sold a printing machine for $30,000 that was purchased on January 1, 2018. The machine cost $50,000 and had a useful life of 5 years with no salvage value. Dec. 31 Scrapped a business automobile that was purchased on June 30, 2017. No cash was received on disposal. The car cost $30,000 and was depreciated on a 5-year useful life with an estimated salvage value of $2,000. Instructions Journalize all entries required as a result of the above transactions. Lindor Company uses the straight-line method of depreciation and has recorded depreciation up to December 31, 2020. 13 Marks I Part B Basil Company purchased equipment on January 1, 2019, for $60,000. It is estimated that the equipment will have a $15,000 salvage value at the end of its 5-year useful life. It is also estimated that the equipment will produce 120,000 units over its 5-year life. Instructions Answer the following independent questions. 1. Compute the amount of depreciation expense for the year ended December 31, 2019, using the straight-line method of depreciation 2. If 18,000 units of product are produced in 2019 and 28,000 units are produced in 2020, what is the book value of the equipment at December 31, 2020? The company uses the units-of- activity depreciation method. 3. If the company uses the double-declining-balance method of depreciation, what is the balance of the Accumulated Depreciation Equipment account at December 31, 2021