Additional Exercise 259 Presented below are selected transactions for Werley Company for 2015. Jan. 1 Received $9,000 scrap value on retirement of machinery that was purchased on January 1, 2005. The machine cost $90,000 on that date, and had a useful life of 10 years with no salvage value. Apri 30 Sold equipment for $34,000 that was purchased on January 1, 2012. The equipment cost $90,000, and had a useful life of 5 years with no salvage value. Dec. 31 Discarded a business automobile that was purchased on April 1, 2011. The car cost $27,000 and was depreciated on a 5-year useful life with a salvage value of $2,000 Journalize all entries required as a result of the above transactions. Werley Company uses the straight-line method of depreciation and has recorded depreciation through December 31, 2014. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Jan. 1 (To record depreciation) April 30 (To record sale of equipment) (To record depreciation) Dec. 31 (To record sale of equipment)