Use the information presented for Volumetrics Corporation in BE11.19, but assume that the machinery is sold for $5,200 instead of $13,500. Prepare journal entries to 

(a) Update depreciation for 2022

(b) Record the disposal.

BE11.19

Volumetrics Corporation owns machinery that cost $20,000 when purchased on January 1, 2020. Depreciation has been recorded at a rate of $3,000 per year, resulting in a balance in accumulated depreciation of $6,000 at December 31, 2021. The machinery is sold on September 1, 2022, for $13,500. Prepare journal entries to