Question: how do i solve this 2-step problem? 5. A piece of equipment was retired on Dec. 31, 2017. The equipment originally cost $34,000 and has

how do i solve this 2-step problem?

5. A piece of equipment was retired on Dec. 31, 2017. The equipment originally cost $34,000 and has related A/D of $24,000 as of Jan. 1, 2017. Additional depreciation of $3,000 needs to be recorded on this piece of equipment at Dec 31, 2017. Update the depreciation below (#5). Then record the retirement (#6). 6. Record the retirement of the equipment (from #5) including the gain or loss

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