Equipment acquired at a cost of $126,000 and a book value of $42,000. Journalize the disposal of the equipment under the following independent assumptions.
(a) The equipment had no market value and was discarded.
(b) The equipment is sold for $53,000.
(c) The equipment is sold for $27,000.
(d) The equipment is traded-in for a similar asset. The list price of the new equipment is $63,000.
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