Prepare journal entries of the following cases:

1) Assume, that office equipment purchased 10 years ago at a cost of $20,000 has been fully depreciated and is no longer useful.

2). Assume that a machine costing $20,000 had accumulated depreciation of $18,000 and a book value of $2,000 at the time it was sold for $3,000 cash.

3). Now assume that a machine costing $20,000 had accumulated depreciation of $18,000 and a book value of $2,000 at the time it was sold for $500.