Crane Company had the following assets on January 1, 2022. Item Machinery Forklift Truck Date Cost (> $59,000 18,000 24,400 (> Purchase Date Jan. 1, 2012 Jan. 1, 2019 Jan. 1, 2017 Useful Life (in years) 10 5 During 2022, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $10,800. The truck was discarded on December 31. Account Titles and Explanation 8 Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. The company uses straight-line depreciation. All depreciation was up to date as of December 31, 2021. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) (To record sale of forklift) (To record depreciation expense on forklift) Salvage Value $0 0 (To record depreciation expense on truck) 3,000 Debit 17 Credit

Crane Company had the following assets on January 1,2022. During 2022, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $10,800. The truck was discarded on December 31 Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. The company uses straight-line depreciation. All depreciation was up to date as of December 31. 2021. (Credit account titles are automotically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) During 2022, each of the assets was removed trom 2 . The truck was discarded on December 31 was sold on June 30 for $10,000. The thuchalike all entries required on the above dates including entries to update depreciation, where applicable, on disposed assets. The company uses straight-line depreciation. All depreciation was up to date as of December 31. disposed assets. The company uses straight-line depreciation. All depreciation was up to date as of Decern