QUESTION 1 - Amortization and Disposal (10 marks) A. On April 1 2015, Sanford and Sons purchased equipment for $87,500 which had an estimated useful life of 3 years with an expected residual value of $5,000. At Dec 31, 2018, the equipment's accumulated amortization is $60,000. Prepare the journal entry to record the sale of the equipment at the end of the fifth year for $25,000 cash. (4 marks) B. If double declining balance depreciation method were used. What would be the amount of amortization expense at for the year at Dec 31, 2016. (6 marks)