Oriole Company had the following assets on January 1, 2017.

Item		Cost		Purchase Date		Useful Life (in years)		Salvage Value
Machinery		$75,260		Jan. 1, 2007		10		$ 0
Forklift		31,800		Jan. 1, 2014		5		0
Truck		35,408		Jan. 1, 2012		8		3,184

During 2017, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $12,720. The truck was discarded on December 31. Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. The company uses straight-line depreciation. All depreciation was up to date as of December 31, 2016. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Jan. 1 |Accumulated Depreciation-Equipment 75,260 Equipment June 30 Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation expense on forklift) June 30 Cash 12,720 Accumulated Depreciation-Equipment Equipment 31,800 Gain on Disposal of Plant Assets (To record sale of forklift) Depreciation Expense Dec. 31 Accumulated Depreciation-Equipment (To record depreciation expense on tr Dec. 31 Accumulated Depreciation-Equipment uck) Loss on Disposal of Plant Assets