Question 2 Presented below are selected transactions at Ridge Co: Jan.1.2015: Retired a piece of machine that was purchased on Jan.1 .2011 the machine cost $60,000 on that date. It had useful life 5 years with no salvage value. June .30.2014: Sold computer that was purchased on Jan.1.2011 the computer cost $45,000.it had a useful life 5 years with no salvage value the computer was sold for 14,000 Apr.1.2014: Sold Equipment that was purchased on Jan.1.2012 the computer cost $80,000.it had a useful life 8 years with no salvage value the computer was sold for 14,000 Required: Prepare the journal entries for the above transactions assuming the company uses the straight line method for depreciation expense