Exercise 9 7 a b Presented here are selected transactions for Sandhill Limited for 2018 Sandhill uses straight line depreciation and records adjusting entries annually Jan 1 Sold a delivery truck for $18,510 cash The truck cost $60,920 when it was purchased on January 1, 2015, and was depreciated based on a four year useful life with a $6,160 residual value Sept 1 Sold computers that were purchased on January 1, 2016 They cost $11,007 and had a useful life of three years with no residual value The computers were sold for $540 cash Dec 30 Retired equipment that was purchased on January 1, 2009 The equipment cost $137,100 and had a useful life of 10 years with no residual value No proceeds were received Record the above transactions (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 ) Date Account Titles and Explanation Debit Credit Jan 1 Sept 1 (To record depreciation expense) 1 (To record the sale of equipment for cash) Dec 30 (To record depreciation expense) 30 (To record the retirement of equipment)

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Exercise 9-7 a-b Presented here are selected transactions for Sandhill Limited for 2018. Sandhill uses straight-line depreciation and records adjusting entries annually. Jan. 1 Sold

Exercise 9-7 a-b

Presented here are selected transactions for Sandhill Limited for 2018. Sandhill uses straight-line depreciation and records adjusting entries annually.

Jan. 1		Sold a delivery truck for $18,510 cash. The truck cost $60,920 when it was purchased on January 1, 2015, and was depreciated based on a four-year useful life with a $6,160 residual value.
Sept. 1		Sold computers that were purchased on January 1, 2016. They cost $11,007 and had a useful life of three years with no residual value. The computers were sold for $540 cash.
Dec. 30		Retired equipment that was purchased on January 1, 2009. The equipment cost $137,100 and had a useful life of 10 years with no residual value. No proceeds were received.

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Record the above transactions. (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.) Date Account Titles and Explanation Debit Credit Jan. 1 Sept. 1 (To record depreciation expense) 1 (To record the sale of equipment for cash) Dec. 30 (To record depreciation expense) 30 (To record the retirement of equipment)