Presented below are selected transactions at Beck’s Company for 2004. LO9 Jan. 1 Retired a piece of kitchen equipment that was purchased on January 1, 1994. The machine cost $62,000 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, 2001. The computer cost $35,000. It had a useful life of seven years with no salvage value. The computer was sold for $22,000.

Dec. 31 Discarded a delivery truck that was purchased on January 1, 2000. The truck cost $30,000. It was depreciated based on a six-year useful life with a

$3,000 salvage value.

Instructions Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Beck’s Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2003.)