Prepare journal entries for the following transactions. Explanations are not required.
2016
Jan. 1 Purchased a bulldozer for $64,000 cash, $4,000 residual value, 20-year expected life, double-declining-balance amortization.
May 1 Purchased office furniture for $15,000 cash, $3,000 residual value, 10-year expected life, straight-line amortization.
Dec. 31 Recorded amortization on the bulldozer and furniture.
2017
June 30 Sold the furniture for $11,000 cash. (Record amortization to date for 2017 before selling the furniture.)
Dec. 31 Recorded amortization on the bulldozer.