Exercise 10-10

Cosmo Company owns equipment that cost $51,750 when purchased on January 1, 2009. It has been depreciated using the straight-line method based on estimated salvage value of $4,000 and an estimated useful life of 5 years. Prepare Cosmo Companys journal entries to record the sale of the equipment in these four independent situations. (Credit account titles are automatically indented when amount is entered. Do not indent manually. Round answers to 0 decimal places e.g.125.)

(a)		Sold for $29,650 on January 1, 2012.
(b)		Sold for $29,650 on May 1, 2012.
(c)		Sold for $10,500 on January 1, 2012.
(d)		Sold for $10,500 on October 1, 2012.