Exercise 9-8 Your answer is partially correct. Try again Here are selected 2017 transactions of Sarasota Corporation Jan. 1 Retired a piece of machinery that was purchased on January 1, 2007. The machine cost $61,500 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2015. The computer cost $36,400 and had a useful life of 4 years with no salvage value. The computer was sold for $4,100 cash. June 30 Sold a delivery truck for $9,300 cash. The truck cost $24,600 when it was purchased on January 1, 2014, and was depreciated based on a 5-year useful life with a $3,700 salvage value. Dec. 31 Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Sarasota Corporation uses straight-line depreciation (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when 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.) Account Titles and Explanation Debit Credit Date Accumulated Depreciation-Equipment Jan. 1 61500 Equipment 61500 June 30 Depreciation Expense 8075 Accumulated Depreciation-Equipment 8075 (To record depreciation expense for 2017) Cash 4100 Accumulated Depreciation-Equipment 25940 6360 Loss on Disposal of Plant Assets Equipment 36400 (To record sale of computer) Dec. 31 Depreciation Expense 4060 4060 Accumulated Depreciation-Equipment (To record depreciation expense for 2017) Cash 9100 Accumulated Depreciation-Equipment 14936 Gain on Disposal of Land 24600 Equipment 14936 (To record sale of delivery truck)