Problem $2$

Yo$-$Yo Go Co$.$ sold a machine on $\frac{7}{1}\frac{?}{18}$ for $$16,000.$ The machine was purchased on $\frac{1}{1}\frac{?}{15}$ for $$40,000$ and has been depreciated under the straight$-$line method with $$0$ salvage value and an estimated useful life of $8$ years.

In the journal below, record all entries required to dispose of this asset on $\frac{7}{1}\frac{?}{18}.$ All depreciation was up to date as of December $31,2017.$ Show detailed work for all of your calculations.

$\backslash$table$[[$Account Title,Debit,Credit$],[,,],[,,],[,,],[,,],[,,],[,,]]$

$4$