• On July 1, 2016, Alpha Company purchased for $78,000, equipment having a service life of eight years and an estimated residual value of $6,000. Alpha has recorded depreciation of the equipment using the double-declining balance method.On December 31, 2018, before making any annual adjusting entries, the equipment was exchanged for new machinery having a fair value of $30,000.The transaction has commercial substance. Use this information to create all General Journal entries (without explanation) required to record the events for December 31, 2018.

• On July 1, 2016, Alpha Company purchased for $72,000, equipment having a service life of eight years and an estimated residual value of $6,000. Alpha has recorded depreciation of the equipment using the double-declining balance method.On December 31, 2019, before making any annual adjusting entries, the equipment was sold for $20,000.Use this information to create all General Journal entries (without explanation) required to record the sale event for December 31, 2019

• The following information regarding cash for Alpha Company is provided for the month ending March 31, 2016:

Item

Amount

Ending Cash per Bank Statement

$26,000

Note collected by bank included interest of $125

$6,125

Bank Service Charges

$75

Deposits in Transit

$2,025

Outstanding Cheques

$4,550

Customer Cheque returned NSF

$375

A review of the bank statement reflected that cheque #224 recorded in the company cheque register as $1,925 to settle an accounts payable, was paid by the bank for the amount of $1,295. Use this information to prepare the compound General Journal entry (without explanation) for March 31, 2016, to cause the company books to match the adjusted cash balance based on the completed bank reconciliation. If no entry is required then write "No Entry Required."