I need help on the answers to the red boxes or step by steo guidance please

Problem 9-3A Your answer is partially correct. Try again. Sunland Company had the following assets on January 1, 2017 Useful Life (in years) 10 Cost Purchase Date Salvage Value $ 0 Item Machinery $62,480 Jan. 1, 2007 26,400 Jan. 1, 2014 29,392 Jn 1, 2012 Forklift Truck 2,640 During 2017, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $10,560. The truck was discarded on December 31 Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. The company uses straight-line depreciation. All depreciation was up to date as of December 31, 2016. (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 O for the amounts.) Date Account Titles and Explanation Debit Credit 62480 62480 June 30 26400 (To record depreciation expense on forklift)