EXTRA TopHat Problem $2$

$2/$ AP Here are selected $2025$ transactions of Akron Corporation.

Jan. $1$ Retired a piece of machinery that was purchased on January $1,2015.$ The machine

cost $$62,000$ and had a useful life of $10$ years with no salvage value.

June$30$ Sold a computer that was purchased on January $1,2023.$ The computer cost

$$36,000$ and had a useful life of $3$ years with no salvage value. The computer was sold for

$$5,000$ cash.

Dec. $31$ Sold a delivery truck for $$9,000$ cash. The truck cost $$25,000$ when it was

purchased on January $1,2022,$ and was depreciated based on a $5-$year useful life with a

$$4,000$ salvage value.

Required: Journalize all entries required on the above dates, including entries to update

depreciation on assets disposed of$,$ where applicable. Akron Corporation uses straight$-$line

depreciation.