question content area equipment was acquired at the beginning of the year at a cost of $75,000. the equipment was depreciated using the straight-line method based upon an estimated useful life of 6 years and an estimated residual value of $7,500. required question content area a. what was the depreciation expense for the first year? fill in the blank 1 of 1$ b. assuming the equipment was sold at the end of the second year for $59,000, determine the gain or loss on the sale of the equipment. fill in the blank 1 of 2$ fill in the blank 2 of 2 question content area c. journalize the entry for the sale. if an amount box does not require an entry, leave it blank. blank account debit credit blank - select - - select - - select - - select - - select - - select - - select - - select -