Brief Exercise 9-7 Prepare journal entries to record these transactions: (a) Rangel Company retires its delivery equipment, which cost $46,160. Accumulated depreciation is also $46,160 on this delivery equipment. No salvage value is received. (b) Rangel Company retires its delivery equipment, which cost $46,160. Accumulated depreciation for the equipment is $37,130 on this delivery equipment. No salvage value is received.