On January 1,2017,Dennis Supply purchased equipment for $60,000 cash,expecting it to remain in service for six years.The equipment is depreciated using the straight-line method with $2,000 estimated residual value.On April 30,2019,the equipment was sold for $48,000 cash.Record depreciation expense for 2019 and the sale of the equipment on April 30,2019.(Round all intermediate calculations to two decimal places.Round final numbers to nearest dollar.)Omit explanations.

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The Answer of On January 1,2017,Dennis Supply purchased equipment for $60,000 cash,expecting it to remain in service for six years.The equipment is depreciated using the straight-line method with $2,000 estimated residual value.On April 30,2019,the equipment was sold for $48,000 cash.Record depreciation expense for 2019 and the sale of the equipment on April 30,2019.(Round all intermediate calculations to two decimal places.Round final numbers to nearest dollar.)Omit explanations.

On January 1,2017,Dennis Supply Purchased Equipment for $60,000 Cash,expecting It