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Journalize all entries required on the dates

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Reference no: EM133051778

Question - Here are selected 2022 transactions of Pronghorn Corporation.

Jan. 1 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $62,000 and had a useful life of 10 years with no salvage value.

June 30 Sold a computer that was purchased on January 1, 2020. The computer cost $35,400 and had a useful life of 4 years with no salvage value. The computer was sold for $5,600 cash.

Dec. 31 Sold a delivery truck for $9.280 cash. The truck cost $25,000 when it was purchased on January 1, 2019, and was depreciated based on a 5-year useful life with a $3,700 salvage value.

Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Pronghorn Corporation uses straight-line depreciation.

Reference no: EM133051778

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