Exercise 9-8

Here are selected 2014 transactions of Cleland Corporation.

Jan. 1	Retired a piece of machinery that was purchased on January 1, 2004. The machine cost $61,530and had a useful life of10years with no salvage value.
June 30	Sold a computer that was purchased on January 1, 2012. The computer cost $36,200and had a useful life of4years with no salvage value. The computer was sold for $4,400cash.
Dec. 31	Sold a delivery truck for $9,020cash. The truck cost $24,390when it was purchased on January 1, 2011, and was depreciated based on a5-year useful life with a $3,270salvage value.