Presented here are selected transactions for Sandhill Limited for 2018. Sandhill uses straight-line depreciation and records adjusting entries annually Sold a delivery truck for $19,080 cash. The truck cost $68,180 when it was purchased on January 1, 2015, and was depreciated based on a four-year useful life with a $5,880 residual value. Jan. 1 Sold computers that were purchased on January 1, 2016. They cost $11,916 and had a useful life of three years with no residual value. The Sept. 1 computers were sold for $520 cash. Retired equipment that was purchased on January 1, 2009. The equipment cost $147,500 and had a useful life of 10 years with no residual Dec. 30 value. No proceeds were received. Part 1 Record the above transactions. (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 O for the amounts.) Account Titles and Explanation Date Debit Credit Jan. 1 Cash Accumulated Depreciation-Vehicles Impairment Loss Vehicles Sept. 1 Depreciation Expense Accumulated Depreciation- Equipment (To record depreciation expense) Cash Accumulated Depreciation Equipment Impairment Loss Equipment (To record the sale of equipment for cash) Sept. 1 Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation expense) 1 Cash Accumulated Depreciation-Equipment Impairment Loss Equipment (To record the sale of equipment for cash) Dec. 30 acc (To record depreciation expense) 30 (To record the retirement of equipment)