Exercise 9-8 Here are selected 2017 transactions of Flounder Corporation Jan. 1 Retired a piece of machinery that was purchased on January 1, 2007. The machine cost $62.300 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2015. The computer cost $35,000 and had a useful life of 4 years with no salvage value. The computer was sold for $4,100 cash June Sold Dec. 31 Sold a delivery truck for $9,090 cash. The truck cost $24,600 when it was purchased on January 1, 2014, and was depreciated based on a 5-year useful life with a $3,500 salvage Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Flounder Corporation uses straight-line depreciation (Record entries in the order displayed in the problem statement. Credit account titles are automatically indested when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account tities and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 . Accumulated Depreciation Equipment 62300 Equipment 62300 June 30 2 Depreciation Expanse Accumulated Depreciation Plant Assets (To record depreciation expense for 2017) Cash Accumulated Depreciation Plant Assets Loss on Disposal of Plant Assets Plant Assets (To record sale of computer) Dec 31 Depreciation Expense Accumulated Depreciation Plant Assets (To record depreciation expense for 2017) 1 ) UUIUL NU ENLY For the account titles and enter o for the amounts.) Date Jan. 1 Account Titles and Explanation Accumulated Depreciation-Equipment Debit Credit 62300 Equipment 62300 June 30 Depreciation Expense 4475 Accumulated Depreciation-Plant Assets (To record depreciation expense for 2017) 4475 Cash 4100 Accumulated Depreciation-Plant Assets Loss on Disposal of Plant Assets Plant Assets (To record sale of computer) Depreciation Expense Dec. 31 Accumulated Depreciation-Plant Assets (To record depreciation expense for 2017) Cash Accumulated Depreciation Plant Assets Plant Assets Gain on Disposal of Plant Assets (To record sale of delivery truck)