Dinnell Company owns the following assets:

In the year of acquisition and retirement of an asset, Dinnell records depreciation expense for one- half year. During 2017, Asset A was sold for $ 7,000.
Required:
Prepare the journal entries to record depreciation on each asset for 2014 through 2017 and the sale of Asset A. Round all answers to the nearest dollar.

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Asset 2014 $20,000 5 years $2,000 Year purchased Cost 2015 $40,000 8 years 2016 $100,000 10 years $10,000 Expected life Residual value Depreciation method Straightline Sumof-the years digits Double-declining-balance