AP$8-11$A $($Acquisition$,$ depreciation, disposal, and replacement$)$ Jijang Excavations Ltd$.($JEL$)$ operates specialized equipment for installing natural gas pipelines. JEL, which has a December $31$ year end, began $2024$ with a single piece of equipment that had been purchased on January $1,2021,$ for $$40,000$ and a truck that had been purchased on January $1,2023,$ for $$60,000.$ When the equipment was purchased, JEL$$s management had estimated that the equipment would have a residual value of $$4,000$ and a useful life of six years. When the truck was purchased, management determined that it would have a useful life of four years and a residual value of $$5,000.$ On March $31,2024,$ JEL sold this piece of equipment for $$29,000$ cash. On April $12,2024,$ JEL purchased replacement equipment with double the capacity for $$82,000$ cash. JEL$$s management determined that this equipment would have a useful life of six years and a residual value of $$10,000.$ Required Prepare all necessary journal entries for the year ended December $31,2024.$ Assume that JEL uses the straight$-$line depreciation method for its equipment and the double$-$diminishing$-$balance method for its trucks.