Equipment acquired on January 6 at a cost of $322,900 has an estimated useful life of 9 years and an estimated residual value of $42,100. Question Content Area a. What was the annual amount of depreciation for Years 1-3 using the straight-line method of depreciation? What was the book value of the equipment on January 1 of Year 4? Assuming that the equipment was sold on January 3 of Year 4 for $217,800, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. Assuming that the equipment had been sold on January 3 of Year 4 for $233,900 instead of $217,800, journalize the entry to record the sale. If an amount box does not require an entry, leave it blank.