he following data relate to the Plant Assets account of Shamrock Inc. at December 31, 2019: A B C D Original cost $46,700 $45,200 $75,500 $73,000 Year purchased 2014 2015 2016 2017 Useful life 10 years 15,500 hours 15 years 10 years Residual value $4,600 $4,900 $8,000 $4,700 Depreciation method straight-line activity straight-line double-declining Accumulated depreciation through 2019 $21,050 $26,100 $13,500 $26,280 Note: In the year an asset is purchased, Shamrock does not record any depreciation expense on the asset. In the year an asset is retired or traded in, Shamrock takes a full years depreciation on the asset. The following transactions occurred during 2020: 1. On May 5, Asset A was sold for $16,700 cash. The companys bookkeeper recorded this retirement as follows: Account Titles and Explanation Debit Credit Cash 16,700 Asset A 16,700 2. On December 31, it was determined that Asset B had been used 3,500 hours during 2020. 3. On December 31, before calculating depreciation expense on Asset C, Shamrock management decided that Asset Cs remaining useful life should be nine years as of year end. 4. On December 31, it was discovered that a piece of equipment purchased in 2019 had been expensed completely in that year. The asset cost $34,000, had a useful life of 10 years when it was acquired, and had no residual value. Management has decided to use the double-declining-balance method for this asset, which can be referred to as Asset E. Ignore income taxes. Prepare any necessary adjusting journal entries required at December 31, 2020, as well as any entries to record depreciation for 2020. (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 0 for the amounts.)