l Presented below are selected transactions at Ridge Company for 2015. Jan. 1 Retired a piece of machinery that was purchased on January 1. 2005. The machine cost $62.490 on that date. it had a useful life of 10 years with no savage value. June 30 Sold a computer that was purchasad on January 1, 2012. The computer cost $35,010. It had a usaful life of 3 years with no salvage value. The computer was sold for $14,000 Dec. 31 Discarded a delivery truck that was purchased on January 1, 2011. The truck cost $38,060. It was depreciated based on a G-year useful life with s $3.560 salvage value. Jour a ze all entres equired on he above dates, inc udng entres to update de recation where applicable on assets ddposed of, R dge Company use straight-line deprec ation Assu me deprec a on select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually.) up o date as o December 31, 2014 IF no entryns required Date Account Titles and Credit Jan. I June 30 To record depreciation to date of disposal) June 30 TTEquipmant To record sale cf computer at a gain loss) Dec. 31 eciation Ex To racord dapraciaton to date of dispocal) Dec. 31 Accumulated of Plant 0 To record retirement of equipment at a gain/loss) Lorence Corporation issued s831.000 amortize bond premium or discount. o 10 year onds on Jenuary 1 2015 or $776.948. This price esulted in an effective interest rate of 9% on the bonds. Interest is payable se annually on )u y 1 and January 1 Lorence uses the effective terest method to Your Prepare the journal entry to record the issuance of the bonds. (Round answers to 0 decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent menually.) corract. r answar is Date Account Titles and E Debit Credi an. Cesh 6.94 t on Bond Your answer is partially correct. Try again. Prepare the journal entry to record the payment of interest and the discount amortization on July 1, 2015, assuming that interest was not accrued on June 30. (Round ansvers to 0 decimal places, e.g. 15,250. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and E Debit Credi July gnterest Exspens 495 on Bonds Payab terest Payable Your answer is partially correct. Try again. Prapare tha journal antry to record tha accrual of intareat and the discount amortization on Decambar 31, 2013. (Round answers to O decimal placos, a.g. 15,250. Crodit account titlos are automatically indonted whon amount is ontered. Do not indont manually.) Date Account Titles and Debit Credit Dec. 31 Interest Payable Question Attempts: 1 of 2 used