Presented below are selected transactions at Kirke Company for 2012.

Jan.1 Retired a piece of machinery that was purchased on January 1, 2002. The machine cost $62,000 on that date. It had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1, 2009. The computer cost $40,000. It had a useful life of 5 years with no salvage value. The computer was sold for $14,000.

Dec. 31 Discarded a delivery truck that was purchased on January 1, 2008. The truck cost $39,000. It was depreciated based on a 6-year useful life with a $3,000 salvage value.

Instructions

Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Kirke Company uses straight-line depreciation. (Assume depre- ciation is up to date as of December 31, 2011.)