Presented below are selected transactions for ABC Company for 2017.

April 30 Sold a machine for $29,000 that was purchased on January 1, 2014. The machine cost $90,000, and had a useful life of 5 years with no residual value

Instructions:

Journalize all entries required as a result of the above transactions ABC Compny uses the straight-line method of depreciation and has recorded depreciation through December 31, 2016.