Help prepare all necessary journal entries to record the following transactions in 2012 for Megan's Molting.

May 1

Discrded old store equipment that originally cost $66,000 and had a book value of $18,000 on date of disposal. Assume depreciation on the equipment has already been recorded for the current year.

June 30

Sold a delivery truck for $11,000. The delivery truck originally cost $77,000 and had accumulated depreciation of $68,000 on the date of sale. Assume the depreciation of the truck has already been recorded to date.

Dec 31

Equipment with a 6-year useful life was purchasedo n Jan 1, 2010, for $62,000 and was sold for $12,000 in 2012. The equipment had been depreciated using the straight-line method with an estimated salvage value of zero. Depreciation expense was alreadt recorded through Dec 31, 2012.