Exercise 9-8 Your answer is partially correct. Try again. Here are selected 2017 transactions of Shefield Corporation Jan. 1 Retired a piece of machinery that was purchased on January 1, 2007. The machine cost $62,800 and had a useful life of 10 years with no salvage value. June Sold a computer that was purchased on January 1, 2015. The computer cost $36,600 and had a useful life of 4 years with no salvage value. The computer was sold for 30 2007. The ss,100 camnute that was purchased on $5,100 cash. Dec. Sold a delivery truck for $9,080 cash. The truck cost $24,000 when it was purchased on January 1, 2014, and was depreciated based on a 5-year useful life with a 31 $3,700 salvage value. uses straight-line depreciation ournalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Sheffield Corporation (Record entries in the order displayed in the problem statement. Credit account tities are automatically indented when amount is entered. Do not indent manually, Ir no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Tities and Explanation Debit Credit 62800 Jan. 1Accumulated Depreciation-Equipment 62800 June 30 AcCumulated Depreciation-Equipment 4575 Equipment (To record depreciation expense for 2017) (To record depreciation expense for 2017) Cash 5100 Accumulated Depreciation-Equipment 22875 Loss on Disposal of Plant Assets 8625 Equipment 36600 To record sale of computer) Dec. 31Accumulated Depreciation-Plant Assets 4060 Plant Assets 4060 (To record depreciation expense for 2017) Cash 9080 Accumulated Depreciation-Equipment 16240 Gain on Disposal of Plant Assets 1320 Cash 24000 (To record sale of delivery truck)