Presented below are selected transactions for Milton Company for 2008.

April 30 Sold a machine for $28,000 that was purchased on January 1, 2005. The machine cost $75,000,

and had a useful life of 5 years with no salvage value.

Dec. 31 Discarded a business automobile that was purchased on October 1, 2003. The car cost $32,000

and was depreciated on a 5-year useful life with a salvage value of $2,000.

Required:

Journalize all entries required as a result of the above transactions. Milton Company uses the straight-line method of depreciation and has recorded depreciation through December 31, 2007.