Here are selected 2014 transactions of Howe Corporation.

Jan. 1 Retired a piece of equipment that was purchased on January 1, 2004. The equipment cost $55,000 and had a useful life of 10 years with no salvage value.

June 30 Sold equipment that was purchased on January 1, 2012. The equipment cost $78,000 and had a useful life of 3 years with no salvage value. The equipment was sold for $9,000 cash.

Dec. 31 Sold equipment for $12,500 cash. The equipment cost $43,000 when it was purchased on January 1, 2011, and was depreciated based on a 5-year useful life with a $3,000 salvage value.

Required: Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Howe Corporation uses straight-line depreciation.