Your answer is partially correct. Here are selected 2022 transactions of Sheffield Corporation. Jan. 1 June 30 Dec. 31 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $62,000 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2020. The computer cost $35,200 and had a useful life of 4 years with no salvage value. The computer was sold for $5,900 cash. Sold a delivery truck for $9.210 cash. The truck cost $23,000 when it was purchased on January 1, 2019, and was depreciated based on a 5-year useful life with a $4,000 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Sheffield Corporation uses straight-line depreciation. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when 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 Jan. 1 Accumulated Depreciation-Equipment Equipment Debit 62000 June 30 Depreciation Expense 35200 Accumulated Depreciation-Equipment (To record depreciation expense) Accumulated Depreciation-Equipment Cash 5867 Accumulated Depreciation-Equipment 30000 Credit 62000 35200 Jan. 1 June 30 Dec. 31 Accumulated Depreciation-Equipment Equipment Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation expense) Cash Accumulated Depreciation-Equipment Loss on Disposal of Plant Assets Equipment (To record sale of computer) Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation expense) Cash Accumulated Depreciation-Equipment Equipment Gain on Disposal of Plant Assets 62000 35200 5867 30000 1000 4200 9000 16800 62000 35200 36000 4200 25000 800