Blossom Excavations Ltd. (BEL) operates specialized equipment far installing natural gas pipelines. BEL, which has a December 31 year end, began 2024 with a single piece of equipment that had been purchased on January 1,2021 , for $27,000 and a truck that had been purchased on Jaruary 1, 2023, for $40,000. When the equipment was purchased, BEl's management had estimated that the equipment would have a residual value of $3,000 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 $3,000. On March 31, 2024, BEL sold this piece of equipment far $19,000cash. On April 12, 2024, BEL purchased replacement equipment with double the capacity for $43,000 cash. BEl's management determined that this equipment would have a useful life of six years and a residual value of $7,000. Prepare all necessary journal entries for the year ended December 31, 2024. Assume that BEL uses the straight-line depreciation method for its equipment and the double-diminishing-balance method for its trucks. (Record entries in the order displayed in the problem statement. Credit account titles are outomatically indented when the amount is entered. Do not indent manually if no entry is required, select