Equipment Acquired at a Cost of $126,000 Has a Book $\$ 54,000$

Equipment acquired at a cost of $126,000 has 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 $\$ 54,000$ .
(c) The equipment is sold for $\$ 24,000$ .
(d) The equipment is traded-in for a similar asset. The list price of the new equipment is $\$ 63,000$ . The buyer gave no cash in the exchange. The transaction lacks commercial substance. ​
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