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

Item	Cost	Purchase Date	Useful Life (in years)	Salvage Value
Machinery	$71,000	Jan. 1, 2007	10	$????-0-
Forklift	?30,000	Jan. 1, 2014	?5	???-0-
Truck	?33,400	Jan. 1, 2012	?8	3,000

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 $12,000. The truck was discarded on December 31.

Instructions

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.

Loss on truck disposal

$10,600