Manchester Company sells equipment on June 1, 2021, for $222,400 cash. Manchester incurred $1,280 of removal and selling costs on disposal. The equipment cost $400,000 when it was purchased on January 2, 2018. Its estimated residual value and useful life were $64,000 and 10 years, respectively. Manchester uses straight-line depreciation and records annual depreciation on each December 31.a. Prepare the journal entries needed to record the asset disposal on June 1, 2021.b. Record the journal entries if the equipment were abandoned (zero fair value) on June 1, 2021.Note: Record debit accounts in alphabetical order using the first letter of the account name.