Dinnell Company owns the following assets:

In the year of acquisition and retirement of an asset, Dinnell records depreciation expense for one-half year. During 2020, Asset A was sold for $7,000.

Required:
Prepare the journal entries to record depreciation on each asset for 2017 through 2020 and the sale of Asset A.
Round all answers to the nearest dollar.

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Asset B A Year purchased 2019 2017 2018 $20,000 5 years $2,000 Straight-line $40,000 8 years $100,000 10 years Cost Expected life Residual value $10,000 Sum-of-the-years'-digits Double-declining-balance Depreciation method