Mar 31 Equipment with a historical cost of $37,000 and an accumulated depreciation of $21,000 was sold for $23,000 cash. (Hint-first update the depreciation for the 3 months-January through March which was $500)

Mar 31 Equipment with a historical cost of $28,000 and an accumulated depreciation of $25,000 was disposed of with an additional disposal cost of $1,200. (Hint-first update the depreciation for the 3 months-January through March which was $500.)

1. Create Journal Entries for two transations above