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Help please During the current year, Hitchcock Developers disposed of plant assets in the following transactions: Office equipment costing $24,000 was given to a scrap

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During the current year, Hitchcock Developers disposed of plant assets in the following transactions: Office equipment costing $24,000 was given to a scrap dealer at no charge. At the date of disposal, accumulated depreciation on the office equipment amounted to $21,800. Hitchcock sold land and a building to Claypool Associates for $900,000. receiving $100,000 cash and a five-year, 9 percent note receivable for the remaining balance. Hitchcock's records showed the following amounts: Land, $50,000; Building, $550,000; Accumulated Depreciation: Building (at the date of disposal). $250,000. Hitchcock traded in an old truck for a new one. The old truck had cost $26,000. and its accumulated depreciation amounted to $18,000. The list price of the new truck was $39,000. but Hitchcock received a $10,000 trade-in allowance for the old truck and paid $28,000 in cash. Hitchcock includes trucks in its Vehicles account. Hitchcock traded in its old computer system as part of the purchase of a new system. The old system had cost $ 15,000. and its accumulated depreciation amounted to $11,000. The new computer's list price was $8,000. Hitchcock accepted a trade-in allowance of $500 for the old computer system, paying SI,500 down in cash and issuing a one-year, 8 percent note payable for the $6,000 balance owed

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