Current Attempt in Progress

Here are selected $2025$ transactions of Oriole Corporation.

Jan. $1$ Retired a piece of furniture that was purchased on January $1,2015.$ The furniture cost $$54,400$ and had a useful life

of $10$ years with no residual value.Presented here are selected transactions for Pharoah Limited for $2024.$ Pharoah uses straight$-$line depreciation and records adjusting

entries annually.

Jan. $1$ Sold a delivery truck for $$18,910$ cash. The truck cost $$67,900$ when it was purchased on January $1,2021,$ and was

depreciated based on a four$-$year useful life with a $$6,080$ residual value.

Sept. $1$ Sold computers that were purchased on January $1,2022.$ They cost $$11,754$ and had a useful life of three years

with no residual value. The computers were sold for $$470$ cash.

Dec. $30$ Retired equipment that was purchased on January $1,2015.$ The equipment cost $$135,800$ and had a useful life of

$10$ years with no residual value. No proceeds were received.

$($a$)$

Record the above transactions. $($List all debit entries before credit entries. Credit account titles are automatically indented when the

amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts.

Record entries in the order displayed in the problem statement.$)$

Date

Account Titles and Explanation

Debit

Cash

$18910$

Truck

$($To record depreciation expense$)$

$($To record the sale of equipment for cash$)$

$($To record depreciation expense$)$

$($To record the retirement of equipment$)$

June $30$

Sold equipment that was purchased on January $1,2023.$ The equipment cost $$34,320$ and had a useful life of $3$

years with no residual value. The equipment was sold for $$4,400$ cash.

Dec. $31$

Sold a vehicle for $$8,000$ cash. The vehicle cost $$22,000$ when it was purchased on January $1,2022,$ and was

depreciated based on a $5-$year useful life with a $$2,800$ residual value.

Oriole Corporation uses straight$-$line depreciation.

Prepare all entries required on the above dates, including entries to update depreciation on assets disposed of$,$ where applicable.

$($Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries.

Record journal entries in the order presented in the problem. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the

amounts.$)$