Reference no: EM132326937
Question
Here are selected 2017 transactions of Sarasota Corporation.
Jan. 1 Retired a piece of machinery that was purchased on January 1, 2007. The machine cost $61,500 and had a useful life of 10 years with no salvage value.
June 30 Sold a computer that was purchased on January 1, 2015. The computer cost $36,400 and had a useful life of 4 years with no salvage value. The computer was sold for $4,100 cash.
Dec. 31 Sold a delivery truck for $9,300 cash. The truck cost $24,600 when it was purchased on January 1, 2014, and was depreciated based on a 5-year useful life with a $3,700 salvage value.
Sarasota Corporation uses straight-line depreciation.
You need help recording the following entries, any assistance with identifying which account titles fit which entry would be helpful.
Entry to record depreciation expense for 2017
Entry to record sale of computer
Entry to record depreciation expense for 2017
Entry to record sale of delivery truck