July Dec 31 Retire Instructions 2005. No salvage (a) Journalize the transactions. (Hint: You may wish to set up T-accounts, post beginning buildings and equipment. The buildings are estimated to have a 40-year useful life and balances, and then post 2015 transactions.) Navaro uses straight-line depreciation for no salvage value; the equipment is estimated to have a 10-year useful life and no sal- vage value. Update depreciation on assets disposed of at the time of sale or retirement. (b) Record adjusting entries for depreciation for 2015. SES (c) Prepare the plant assets section of Navaro's balance sheet at December 31, 2015. dal P9-3A Presented here are selected transactions for Pine Company for 2014. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2004. The machine cost $71,000 on that date and had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1, 2011. The computer cost $30,000 and had a useful life of 5 years with no salvage value. The computer was sold for $12,000. Dec. 31 Discarded a delivery truck that was purchased on January 1, 2009. The truck cost $33,400 and was depreciated based on an 8-year useful life with a $3,000 salvage value