Consider the following independent situations for Fletch Inc.

1. Fletch purchased equipment in 2007 for $120,000 and an estimated $12,000 residual value at the end of its 10 year useful life. At December 31, 2013 there was $75,600 in accumulated depreciation using straight line depreciation. On March 31, 2014, the equipment was sold for $28,000.

2. Fletch sold a piece of machinery for $10,000 on July 31, 2014. The machine originally cost $38,000 on January 1, 20016. It was estimated the machine would have a useful life of 12 years with a residual value of $2,000. Straight line depreciation was used.

3. Fletch sold office equipment that had a carrying amount of $3,500 for $5,200. The office equipment originally cost $12,000 and it is estimated that it would cost Fletch $16,000 to replace the equipment.

Required:

Prepare the appropriate journal entries to record the disposition of PP&E.