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Your answer is partially correct Sunland Company had the following assets on January 1, 2022 Useful Life (in years) Item Cost Salvage Value Purchase Date Jan 1, 2012 Machinery $77,000 10 $0 Forklift 36,000 Jan 1, 2019 5 0 Truck 42.400 Jan 1, 2017 8 3,000 During 2022, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $12,600. The truck was discarded on December 31 Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. The company uses straight-line depreciation. All depreciation was up to date as of December 31, 2021. (Credit account titles are automatically Indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts.) Debit Credit Date Account Titles and Explanation 4925 Depreciation Expense 492 Accumulated Depreciation-Buildings (To record depreciation expense on forklift) I DONO DO (To record sale of forklift) (To record sale of forklift) I NO DOO (To record depreciation expense on truck) (To record sale of truck)