Try another version of this question On May 31, 2020, Please Grow Landscaping discarded equipment that had a cost of $30,092. Accumulated Depreciation as of December 31, 2019, was $27,500. Assume annual depreciation on the equipment is $2,592. 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 30,092 Less: Accumulated Depreciation 28,580 -1,512 Gain or (Loss) -1,512 Date Description Debit Credit May 31 Depreciation Exp-Equipment 1,080 May 31 Accum. Depr.-Equipment 1,080 May 31 Accum. Depr.-Equipment 28,580 May 31 Loss on Disposal 1,512 May 31 Equipment 30,092