please answer correctly using proper calculations and explanations.

The following data relate to the Plant Assets account of Kingbird Inc. at December 31, 2022: A B C D Original cost $46,900 $51,000 $80,000 $73,000 Year purchased 2017 2018 2019 2020 Useful life 10 years 18,000 hours 15 years 10 years Residual value $4,800 $4,200 $5,000 $4,700 Depreciation method straight- straight- double- line activity line declining Accumulated depreciation $21,050 $26,100 $15,000 $26,280 through 2022 Note: In the year an asset is purchased, Kingbird does not record any depreciation expense on the asset. In the year an asset is retired or traded in, Kingbird takes a full year's depreciation on the asset. The following transactions occurred during 2023: 1. On May 5, Asset A was sold for $17,050 cash. The company's bookkeeper recorded this retirement as follows:1. On May 5, Asset A was sold for $17,050 cash. The company's bookkeeper recorded this retirement as follows: Cash 17,050 Asset A 17,050 2. On December 31, it was determined that Asset B had been used 3,200 hours during 2023. 3. On December 31, before calculating depreciation expense on Asset C, Kingbird's management decided that Asset C's remaining useful life should be nine years as of year end. 4. On December 31, it was discovered that a piece of equipment purchased in 2022 had been expensed completely in that year. The asset cost $33,000, had a useful life of 10 years when it was acquired, and had no residual value. Management has decided to use the double-declining-balance method for this asset, which can be referred to as "Asset E.\" Ignore income taxes. la) Prepare any necessary adjusting journal entries required at December 31, 2023, as well as any entries to record depreciation for 2023. {Credit account titles are automatically indented when the amount is entered. Do not indent manually. lf no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. List all debit entries before credit entries Round depreciation per unit to 2 decimal places, e.g. 15.25 and nal answers to 0 decimal places, as. 5,275.) Account Titles and Explanation Debit Credit ' Depreciation Expense V' i 4210 I ' Accumulated DepreciationAsset A v 4210 {To record depreciation on Asset A) Accumulated DepreciationAsset A v 25260 Loss on Disposal of Assets v 2790 {To record disposal of Asset A) Accumulated DepreciationAsset B v 12000 {To record depreciation on Asset B) ' Depreciation Expense V' 4000 {To record depreciation on Asset B) Depreciation Expense v 4000 Accumulated DepreciationAssetC v {To record depreciation on Asset C) 4000 l Asset E v l 30000 Retained Earnings v {To record cost of Asset E) Depreciation Expense v 3300 Accumulated DepreciationAsset E V 3300 {To record depreciation on Asset E} Accumulated DepreciationAsset D v 9344 30000 ll ll {To record depreciation on Asset E} Depreciation Expense v 9344 Accumulated DepreciationAsset D v 9344 {To record depreciation on Asset D}