Hawk Ltd's accounts at 31 December 2022 included the following balances. Equipment (at cost) Accumulated depreciation...

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Hawk Ltd's accounts at 31 December 2022 included the following balances. Equipment (at cost) Accumulated depreciation - equipment Details of equipment owned at 31 December 2022 are as follows: $ 182 000 96 400 Equipment Purchase date Cost Useful life Residual value 1 1 October 2019 $86 000 5 years $5 000 2 1 February 2020 $96 000 6 years $6 000 Additional information Hawk Ltd uses straight-line depreciation for all depreciable assets. Hawk Ltd calculates depreciation to the nearest month and balances the records at month-end. Recorded amounts are rounded to the nearest dollar, and the end of the reporting period is 31 December. Transactions and events over the next two year: Jan. 2, 2023 Dec. 31, 2023 Bought a new equipment (Equipment 3) for a cash price of $114 000. Freight charges of $884 and installation costs of $3516 were paid in cash. The useful life and residual value were estimated at 5 years and $8000 respectively. Recorded depreciation. Paid for repairs and maintenance on the equipment at a cash cost of $1856. Sold equipment 1 for scrap, receiving $2000 in cash April 30, 2024 1 Oct., 2024 Dec. 31, 2024 Recorded depreciation. Required: Prepare general journal entries to record the above transactions and events which occurred from 1 January 2023 to 31 December 2024. Hawk Ltd's accounts at 31 December 2022 included the following balances. Equipment (at cost) Accumulated depreciation - equipment Details of equipment owned at 31 December 2022 are as follows: $ 182 000 96 400 Equipment Purchase date Cost Useful life Residual value 1 1 October 2019 $86 000 5 years $5 000 2 1 February 2020 $96 000 6 years $6 000 Additional information Hawk Ltd uses straight-line depreciation for all depreciable assets. Hawk Ltd calculates depreciation to the nearest month and balances the records at month-end. Recorded amounts are rounded to the nearest dollar, and the end of the reporting period is 31 December. Transactions and events over the next two year: Jan. 2, 2023 Dec. 31, 2023 Bought a new equipment (Equipment 3) for a cash price of $114 000. Freight charges of $884 and installation costs of $3516 were paid in cash. The useful life and residual value were estimated at 5 years and $8000 respectively. Recorded depreciation. Paid for repairs and maintenance on the equipment at a cash cost of $1856. Sold equipment 1 for scrap, receiving $2000 in cash April 30, 2024 1 Oct., 2024 Dec. 31, 2024 Recorded depreciation. Required: Prepare general journal entries to record the above transactions and events which occurred from 1 January 2023 to 31 December 2024.