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Presented below are selected transactions of Sensational Beverages Ltd for Year ending 31/12/2020 January 1 Scrapped machinery that was purchased on 1 January 2010. The

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Presented below are selected transactions of Sensational Beverages Ltd for Year ending 31/12/2020 January 1 Scrapped machinery that was purchased on 1 January 2010. The machine cost $165,000 and had a useful life of 10 years with no residual value April 30 Sold a coffee machine for $10,000 cash. The coffee machine was purchased on 1 January 2014 and cost $36,000. The coffee machine was depreciated based on a 10 year useful life with a $6,000 residual value June 30 Sold a computer that was purchased on 1 January 2016. The computer cost $64,000, had a useful life of 8 years with no residual value. The computer was sold for $36,000 December 31 Purchased equipment for $85,000 cash. Useful life of 10 years with no residual value Required: Prepare the journal entries to record the above transactions for Sensational Beverages Ltd, which has a financial year end of 31 December 2020 and uses the straight-line method of depreciation. Ignore GST Narrations are not required

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