Question: Sandhill Co . had the following assets on January 1 , 2 0 2 5 . During 2 0 2 5 , each of the

Sandhill Co. had the following assets on January 1,2025.
During 2025, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30
for $11,600. 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 31,2024.(List all debit entries before credit
entries. 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 0 for the amounts.)Date
Account Titles and Explanation
Debit
Credit
Accumulated Depreciation-Equipment
Depreciation Expense
Accumulated Depreciation-Equipment
(To record depreciation expense on forklift)
Accumulated Depreciation-Equipment
Gain on Disposal of Plant Assets
(To record sale of forklift)Equipment
(To record sale of forklift)
Accumulated Depreciation-Equipment
(To record depreciation expense on truck)
Loss on Disposal of Plant Assets
(To record disposal of truck)
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