Presented here are selected transactions for Spector Limited for 2015. Spector uses straight-line depreciation and records adjusting entries annually.

Jan. 1 Sold a delivery truck for $18,000 cash. The truck cost $62,000 when it was purchased on January 1, 2012, and was depreciated based on a four-year useful life with a $6,000 residual value.

Sept. 1 Sold computers that were purchased on January 1, 2013. Th ey cost $10,980 and had a useful life of three years with no residual value. The computers were sold for $500 cash.

Dec. 30 Retired equipment that was purchased on January 1, 2006. The equipment cost $150,000 and had a useful life of 10 years with no residual value. No proceeds were received.