Additional Exercise 15.1 Presented below are selected transactions at Tongun Company for the financial year ending 30 June 2016. 1 July 2015 Retired a piece of machinery that was purchased on 1 July 2005. The machine cost $62,000 on that date. It had a useful life of 10 years with no residual value. 1 Jan. 2016 Sold a computer that was purchased on 1 July 2012. The computer cost $35,000. It had a useful life of 5 years with no residual value. The computer was sold for $12,000. 30 June 2016 Discarded a delivery truck that was purchased on 1 July 2011. The truck cost $33,000. It was depreciated based on a 6-year useful life with a $3,000 residual value Required Journalise all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Tongun Company uses straight-line depreciation. (Assume depreciation is up to date as of 30 June 2015.) (Enter all debit entries first, followed by all credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Credit Date Dcbit 2015 July1 2016 Jan.1 2016 Jan.1 2016 June 30 2016 June 30