QS 8-10 (Algo) Computing revised depreciation LO C2 On January 1, the Matthews Band pays $67,400 for sound equipment. The band estimates it will use this equipment for five years and aiter five years it can sell the equipment for \$2,000. Matthews Band uses straight line depreciation but realizes at the start of the Compute the revised depreclation for both the second and third years. QS 8-12 (Algo) Disposal of assets LO P2 Garcla Company owns equipment that cost $77,200, with accumulated depreciation of $41,000. Record the sale of the equipment under the following three separate cases assuming Garcia sells the equ (2) $36,200 cash, and (3) \$31,100 cash. Journal entry worksheet Record the sale of equipment assuming Garcia sells the equipment for $47,300 cash. Note: Enter debits before credits. Journal entry worksheet Record the sale of equipment assuming Garcia sells the equipment for $36,200 cash. Note: Enter debits before credits. Journal entry worksheet Record the sale of equipment assuming Garcia sells the equipment for $31,100 cash. Note: Enter debits before credits