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journalize All Entries Current Attempt in Progress Here are selected 2025 transactions of Culver Corporation. Jan. 1 Retired a piece of machinery that was purchased
journalize All Entries
Current Attempt in Progress Here are selected 2025 transactions of Culver Corporation. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2015. The machine cost $61,300 and had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1,2023. The computer cost $35,800 and had a usefullife of 4 years with no salvage value. The computer was sold for $4,100 cash. Dec. 31 Sold a delivery truck for $9,210 cash. The truck cost $24,200 when it was purchased on January 1, 2022, and was depreciated based on a 5 -year useful life with a $3,300 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Culver Corporation uses straight-line depreciation. (List all debit entries before credit entries. Record entries in the order displayed in the problem statement. Credit account titles are automatically indented when 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.) June 30: Depreciation Expense 4.475 Accumulated Depreciation-Store Equipment 4.475 (To record depreciation expense) June 30 : Cash 4,100 Accumulated Depreciation-Store Equipment Loss on Disposal of Plant Assets Olfice Equipment I Girise Equibment (To record sale of computer) Dec. 31 Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation expense) Dec. 31 : Cash Accumulated Depreciation Equipment Delivery Truck Gain on Disposal of Wlant Assets Goh on Disesal ct Piant Astets (To record sale of delivery truck) Step by Step Solution
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