Current Attempt in Progress Ivanhoe Company had the following assets on January 1, 2025. Item Machinery Forklift Truck Cost $61,000 20,000 26,400 Date Purchase Date Jan. 1, 2015 Jan. 1, 2022 Jan. 1, 2020 Useful Life (in years) 10 5 8 Account Titles and Explanation Salvage Value (To record depreciation expense on forklift) $0 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 $11,000. 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 before credit entries. 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.) 0 3,000 Debit Credit SUPPORT