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(c) It was sold for $20,000. Record disposal of equipment. (LO 3), AP E7-8 Here are selected 2017 transactions of Akron Corporation. 1 Retired a piece of machinery that was purchased on January 1, 2007. The machine cost $6a,000 arnd had a useful life of to years with June 30 Sold a computer that was purchased on January 1, 2015. The computer cost $36,000 and had a useful life of siyears with no salvage Dec. 31 Sold a delivery truck for $9,000 cash. The truck cost $25.0o0 when it was purchased on January 1, 2014, and was depreciated based no salvage value. value. The computer was sold for $5.00o cash. on a 5-year useful life with a $4,000 salvage value. Instructions Corporation uses straight-line depreciation. Analyze equipment transactions and determine missing amounts. Prepare a tabular summary to record all transactions described on the above dates. Update depreciation on assets disposed of, where applicable. Akron (LO 1, 2,3), AN Shown below is a tabular summary relating to equipment that was purchased for cash by a company on the first day of the current year. The I salvage value of $100 Part of the equipment was sold on equipment was depreciated on a straight-line basis with an estimated useful life of 1o years and a