Here are selected 2014 transactions of Cleland Corporation. Jan. 1 Retired a pie

Question

Here are selected 2014 transactions of Cleland Corporation.

Jan. 1       Retired a piece of machinery that was purchased on January 1, 2004. The machine cost $61,400 and had a useful life of 10 years with no salvage value.
June 30       Sold a computer that was purchased on January 1, 2012. The computer cost $35,200 and had a useful life of 4 years with no salvage value. The computer was sold for $5,660 cash.
Dec. 31       Sold a delivery truck for $9,430 cash. The truck cost $23,200 when it was purchased on January 1, 2011, and was depreciated based on a 5-year useful life with a $3,210 salvage value.

Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Cleland Corporation uses straight-line depreciation. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date
Account Titles and Explanation
Debit
Credit

(To record depreciation expense for the first 6 months of 2014)

(To record depreciation expense for the year 2014)

Please journalize in liquidity, dates, debit and credit columns. Thanks

Explanation / Answer

Here are selected 2014 transactions of Cleland Corporation. Jan. 1 Retired a pie

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