Presented below are selected transactions for the Cullumber Company for 2023. Jan. 1 April 30 Retired a piece of equipment that was purchased on January 1, 2013. The equipment cost $ 157,500 on that date and had a useful life of 10 years with no salvage value, Sold equipment for $ 79,800 that was purchased on January 1, 2020. The equipment cost $ 220,500 and had a useful life of 5 years with no salvage value. Discarded equipment that was purchased on June 30, 2019. The equipment cost $ 88,200 and was depreciated on a 5-year useful life with a salvage value of $4,200. Dec. 31 Journalize all entries required as a result of the above transactions. Cullumber Company uses the straight-line method of depreciation and has recorded depreciation through December 31, 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually . If no entry is required, select "No Entry for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Jan. 1 April 30 (To record depreciation) (To record sale of equipment) Dec. 31 (To record depreciation) (To record sale of equipment)