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Here are selected 1022 transactions of Martinez Corporation. Jan 1 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost
Here are selected 1022 transactions of Martinez Corporation. Jan 1 Retired a piece of machinery that was purchased on January 1, 2012. The machine cost $62,800 and had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1, 2020. The computer cost $36,400 and had a useful life of 4 years with no salvage value. The computer was sold for $4,300 cash. Dec. 31 Sold a delivery truck for $9.250 cash. The truck cost $23.200 when it was purchased on January 1, 2019, and was depreciated based on a 5-year useful life with a $4,100 salvage value. Prepare a tabular summary to record all transactions described on the above dates. Update depreciation on assets disposed of, where applicable. Martinez Corporation uses straight-line depreciation. (If a transaction causes a decrease in Assets, Liabilities or Stockholders' Equity, ploce a negative sign for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets Liabilities Cash Equipment Accum. Depr. - Equip. Jan. 1 s $ June 30 Dec. 31
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