Question: Your answer is partially correct. Here are selected 2022 transactions of Marigold Corporation Jan. 1 June 30 Retired a piece of machinery that was purchased


Your answer is partially correct. Here are selected 2022 transactions of Marigold Corporation Jan. 1 June 30 Retired a piece of machinery that was purchased on January 1, 2012 The machine cost $63,000 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 $37.000 and had a useful life of 4 years with no salvage value. The computer was sold for $6,000 cash Sold a delivery truck for 59,130 cash. The truck cost $24 500 when it was purchased on January 1, 2019. and was depreciated based on a 5-year useful life with a $3.400 salvage value Dec 31 Journalize all entries required on the above dates including entries to update depreciation on assets disposed of where abolicable Marigold 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 for the amounts) Date Account Titles and Explanation Debit Credit Jan. Accumulated Depreciation Cuiment 63000 ment 63000 Debit Credit Date Account Titles and Explanation Jan. 1 Accumulated Depreciation Equipment 63000 Equipment 63000 June 30 Depreciation Expense 4625 Accumulated Depreciation Equipment 4625 (To record depreciation expense) Cash 6000 Accumulated Depreciation Equipment 23125 Lots on Disposal of Plant Assets 7975 Computer 07000 (To record sale of computer) Dec 31 Depreciation Expono (To record sale of computer) Dec 31 Depreciation Expense 4220 Accumulated Depreciation Equipment 4220 (To record depreciation expense) Cash 9130 Accumulated Depreciation Equipement 16680 Delivery truck 24500 gain on sale of delivery truck 1310 (To record sale of delivery truck)
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