Case C Robert Sporting Goods Company had purchased some equipment (Q107) on January 1, 2014 for $ XXXXXXXXXXwith an estimated salvage value of $8 000 and a 10-year useful life. On December 31, 2020,...

Case C

Robert Sporting Goods Company had purchased some equipment (Q107) on January 1, 2014 for $104 000 with an estimated salvage value of $8 000 and a 10-year useful life. On December 31, 2020, there was $67 200 in the Accumulated Depreciation account for this equipment using the straight-line method of depreciation. In preparation for expansion, on March 31, 2021, that equipment was sold for $21 000.

Required:

 i)  Complete the following schedule of useful working.

 ii)  Prepare the necessary journal entries to record the disposal of the equipment on March 31, 2021.  When selecting from dropdown lists, if a line item does not apply, selectNA and place zero in the field in the number column.  Do not leave any number fields blank.

March 31, 2021