Problem 9-3A Your answer is partially correct. Try again. Wildhorse Co. had the following assets on January 1, 2017. Salvage Value Item Machinery Forklift Truck $ 0 Cost $83,780 35,400 39,416 Useful Life (in years) 10 5 8 Purchase Date Jan 1, 2007 Jan 1, 2014 Jan. 1, 2012 3,544 During 2017, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $14,160. 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, 2016. (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 o for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 Accumulated Depreciation Equipment Equipment June 30 Depreciation Expense Accumulated Depreciation Equipment (To record depreciation expense on forklift) June 30 Cash 77 141509 Accumulated Depreciation-Equipment Equipment 35400 Gain on Disposal of Plant Assets 8378 SUI UEPISODE IN 30 Cash Accumulated Depreciation-Equipment Equipment 35400 Gain on Disposal of Plant Assets 8378 (To record sale of forklift) Dec. 31 Depreciation Expense Accumulated Depreciation Equipment (To record depreciation expense on truck) Dec. 31 Accumulated Depreciation Equipment Loss on Disposal of Plant Assets 39416 Equipment (To record sale of truck) Click if you would like to Show Work for this question: Qpen Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT Question Attempts: 1 of 3 used