Try another version of this question On May 31, 2020, Please Grow Landscaping discarded equipment that had a cost of $31,264. Accumulated Depreciation as of December 31, 2019, was $28,900. Assume annual depreciation on the equipment is $2,364. Journalize the partial-year depreciation expense and disposal of the equipment. Market value of assets received Less: Book value of asset disposed of Cost Less: Accumulated Depreciation Gain or (Loss) Date Description Debit Credit May 31 May 31 May 31 May 31 May 31 Market value of assets received 0 Less: Book value of asset disposed of Cost 31,264 Less: Accumulated Depreciation 29,885 -1,379 Gain or (Loss) -1,379 Date Description Debit Credit May 31 Depreciation Exp-Equipment 985 May 31 Accum. Depr.-Equipment 985 May 31 Accum. Depr.-Equipment 29,885 May 31 Loss on Disposal 1,379 May 31 Equipment 31,264