. Assume the company uses straight-line depreciation for the equipment. At the beginning of the second year, we determine equipment has only two more years of remaining useful life. Compute the equipment's book value at the end of its first year ). Assume the company uses straight-line depreciation for the equipment. At the beginning of the second year, we determine equipment has only two more years of remaining useful life. Compute the depreciation for the second year given the revise eful life estimate. At the end of the equipment's useful life, the company plans to sell it. Record the sale of equipment at the end of its useful life 2,000 cash and (b) $6,000 cash. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Assume the company uses straight-line depreciation for the equipment. At the beginning of the second year, we determine that the equipment has only two more years of remaining useful life. Compute the equipment's book value at the end of its first year. Book Value at the End of Year 1: Cost Accumulated depreciation of first year Book value at point of revision Required 18 > 1(a). Assume the company uses straight-line depreciation for the equipment. At the beginning of the second year, we determin the equipment has only two more years of remaining useful life. Compute the equipment's book value at the end of its first yea 1(b). Assume the company uses straight-line depreciation for the equipment. At the beginning of the second year, we determin the equipment has only two more years of remaining useful life. Compute the depreciation for the second year given the revise useful life estimate. 2. At the end of the equipment's useful life, the company plans to sell it. Record the sale of equipment at the end of its useful lit $12,000 cash and (b) $6,000 cash. Complete this question by entering your answers in the tabs below. Reguired LA Required 18 Required 2 Assume the company uses straight-line depreciation for the equipment. At the beginning of the second year, we determine that the equipment has only two more years of remaining useful life. Compute depreciation for the second year given the revised useful life estimate. Revised Depreciation for Second Year Book value at point of revision Revised salvage value Remaining depreciable cost Years of ife remaining Revised annual depreciation for second year < Required 1A Required 2> Required 1A Required 18 Required 2 At the end of the equipment's useful life, the company plans to sell it. Record the sale of equipment at the end of its useful life for (a) $12,000 cash and (b) $6,000 cash. View transaction list Journal entry worksheet Record the sale of equipment at the end of its useful life for $12000 cash. Note: Enter debits before credits. General Journal Debit Credi Transaction (a) View general journal Record entry Clear entry