Try another version of this question On May 31, 2020, Please Grow Landscaping discarded equipment that had a cost of $29,100. Accumulated Depreciation as of December 31, 2019, was $26,700. Assume annual depreciation on the equipment is $2,400. 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 29,100 Less: Accumulated Depreciation 27,700 -1,400 Gain or (Loss) -1,400 Date Description Debit Credit May 31 Depreciation Exp-Equipment 1,000 May 31 Accum. Depr.-Equipment 1,000 May 31 Accum. Depr.-Equipment 27,700 May 31 Loss on Disposal 1,400 May 31 Equipment 29,100