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Current Attempt in Progress Cullumber Company had the following assets on January 1, 2025. Item Cost Purchase Date {:[ Useful Life ],[ (in years) ]:}
Current Attempt in Progress Cullumber Company had the following assets on January 1, 2025. Item Cost Purchase Date {:[" Useful Life "],[" (in years) "]:} Salvage Value Machinery $83,000 Jan. 1, 2015 10 $0 Forklift 42,000 Jan. 1,2022 5 0 Truck 48,400 Jan. 1,2020 8 3,000 During 2025 , each of the assets was removed from service. The machinery was retired on January 1 . The forklift was sold on June 30 for $13,200. 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, 2024. (List all debit entries
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