Solve and explain.

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Presented below are selected transactions at Ridge Company for 2015. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2005. The machine cost $61,530 on that date. It had a useful life of 10 years with no salvage value June 30 Sold a computer that was purchased on January 1, 2012. The computer cost $35,000. It had a useful life of 5 years with no salvage value. The computer was sold for $14,710. Dec. 31 Discarded a delivery truck that was purchased on January 1, 2011. The truck cost $44,230. It was depreciated based on a 6-year useful life with a $2,650 salvage value. Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Ridge Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2014.) (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 1 Accumulated Depreciation Equipment June 30 Depreciation Expense Accumulated Depreciation. (To record depreciation to date of disposal)