9-8

Here are selected 2014 transactions of Cleland Corporation.please use template as guide. thank you :)

Exercise 9-8 Here are selected 2014 transactions of Cleland Corporation. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2004. The machine cost $62,030 and had a useful life of 10 years with no June 30 Sold a computer that was purchased on January 1, 2012. The computer cost $36,600 and had a useful life of 4 years with no salvage value. Dec. 31 Sold a delivery truck for $9,390 cash. The truck cost $23,930 when it was purchased on January 1, 2011, and was depreciated based on a 5- salvage value. The computer was sold for $5,890 cash year useful life with a $3,900 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Cleland 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.)