Prepare the necessary journal entries to record the following transactions in 2014 for the Pina Colada. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Jan. 11		Discarded old store equipment that originally cost $21,000 and had a book value of $4,368 on the date of disposal. Depreciation on the equipment has already been recorded for the current year.
Mar. 6		Sold a delivery truck for $7,056. The delivery truck originally cost $44,520 and had accumulated depreciation of $38,640 on the date of sale. The depreciation on the truck has already been recorded for the current year.
Mar. 31		Straight-line depreciation is recorded for the first quarter of 2014 on equipment with a 4-year useful life that was purchased on January 1, 2012, for $23,016 with an estimated salvage value of $2,856.
May. 10		Incurred and paid for $470,400 of costs to develop a new patent. The patent has a legal life of 20 years.
Sept. 30		Paid the corporate attorney $55,200 to register the new patent (see May 10).
Nov. 1		Acquired RT Lily, a small parts company, for $260,400 cash. RT Lily had net assets totaling $739,200, net liabilities totaling $546,000.
Dec. 31		Recognized amortization for the last quarter of 2014.

Prepare the necessary journal entries to record the following transactions in 2014 for the Pina Colada. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before credit entries. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Jan. 11 Discarded old store equipment that originally cost $21,000 and had a book value of $4,368 on the date of disposal. Depreciation on the equipment has already been recorded for the current year. Mar. 6 Sold a delivery truck for $7,056. The delivery truck originally cost $44,520 and had accumulated depreciation of $38,640 on the date of sale. The depreciation on the truck has already been recorded for the current year. Mar. 31 Straight-line depreciation is recorded for the first quarter of 2014 on equipment with a 4-year useful life that was purchased on January 1, 2012, for $23,016 with an estimated salvage value of $2,856. May. 10 Incurred and paid for $470,400 of costs to develop a new patent. The patent has a legal life of 20 years. Sept. 30 Paid the corporate attorney $55,200 to register the new patent (see May 10). Nov. 1 Acquired RT Lily, a small parts company, for $260,400 cash. RT Lily had net assets totaling $739,200, net liabilities totaling $546,000. Recognized amortization for the last quarter of 2014. Dec. 31 I Date Account Titles and Explanation Debit Credit Jan. 11 Mar. 6 Mar. 31 May 10 re May 10 Sep. 30 Nov. 1 Dec. 31 E