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Current Attempt in Progress Here are selected 2022 transactions of Martinez Corporation. Jan. 1 Retired a piece of machinery that was purchased on January 1,
Current Attempt in Progress Here are selected 2022 transactions of Martinez Corporation. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $62,800 and had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1, 2020. The computer cost $36,400 and had a useful life of 4 years with no salvage value. The computer was sold for $4,300 cash. Dec. 31 Sold a delivery truck for $9,250 cash. The truck cost $23,200 when it was purchased on January 1, 2019, and was depreciated based on a 5-year useful life with a $4,100 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Martinez Corporation uses straight-line depreciation. (Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.)
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