Show Attempt History Current Attempt in Progress Your answer is partially correct Shown below are the Taccounts relating to equipment that was purchased for cash by a company on the first day of the current year. The T accounts show the balance in the accounts on January 1 along with the effects of transactions recorded on December 31 of the current year. The equipment was depreciated on a straight-line basis with an estimated useful life of 10 years and a residual value of $360. Part of the equipment was sold on the last day of the current year for cash proceeds while the remaining equipment that was not sold became impaired. Reconstruct the journal entries to record the following and derive the missing amounts: (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 Coupent 2100 Caah 21HO Dec. 31 Dearestation Expanse 200 Accumulated Depreciation - Equipment 200 Dec. 31 802 Accumulated Depreciation Louiment 80 Equipment 872 Gain on Dsposal 90 Dec. 31 Imprimentos 51 Accumulated Depreciation Equipment 51 al b) Purchase of equipment on January 1. What was the cash paid? Depreciation recorded on December 31. What was the depreciation expense? Sale of part of the equipment on December 31. What was the gain on disposal? Partial impairment loss on the remaining equipment on December 31. What was the impairment loss? c) d) Cash Jan. 1 2190 la) Dec 31 1.294 Equipment Jan. 1 3.310 Dec 31 1.324 Accumulated Depreciation-Equipment Dec 31 295 Dec. 31 118 Dec. 31 60 Depreciation Expense Dec. 31 200 b Gain on Disposal Dec 31 903 (c) Impairment Loss Dec. 31 5: d) cTextbook and Media List of Accounts Save for Later Attempts: 1 of 3 used Submit