16A-4. Journalize the following transactions for the Round Company and show all calculations: 2017 Jan. 1 Feb. 10 May 1 Sold a truck for $1,450 that cost $7,100 and had accumulated depreciation of $6,400. A machine costing $2,900 with accumulated depreciation of $2,100 was destroyed in a fire. The insurance company settled the claim for $250. Traded in a machine costing $17,500 with $14,500 of accumulated depreciation for a new machine costing $25,000 with a trade-in allowance of $2,800. Note that depreciation is up-to-date. The loss is to be recognized. Traded in a machine costing $40,000 with $32,000 of accumulated depreciation (which is up-to-date) for a new machine for a cash price of $50,000 and a trade-in allowance of $10,000. Journalize the May 1 transaction using the income tax method. A truck costing $8,000 and fully depreciated was disposed of. July 8 Aug. 9 Sept. 12