Problem 9-3A Blossom Company had the following assets on January 1, 2017 Useful Life Item Cost Purchase Date (in years) Salvage Value Machinery $68,160 Jan. 1, 2007 10 28,800 an. 1, 2014 Forklift Truck 2,880 32,064 Jan. 1, 2012 During 2017, each of the assets was removed from service. The machinery was retired on ]anuary 1. The forklift was sold on ]une 30 for 11,520. The truck was discarded on December 31 Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. The company uses straight line depreciation. All depreciation was up to date as of December 31, 2016. (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 0 for the amounts.) Account Titles and Explanation Debit Credit Date 681 Jan. 1Accuulated Deprecation Equipment Equipment 68160 28 June 30Depreciation Expense Accumulated Depreciation-Equipment 2880 (To record depreciation expense on forkift) June 30 Cash 11520 172 Accumulated Depreciation-Equipment June 30 Cash 11520 17280 28800 Equipment 2880 Gain on Disposal of Plant Assets (To record sale of forkift) Dec. 31 Depreciation Expense Acamulated Depreciation-Equiomen To record deprecation expense on truck) Dec. 31 Accumulated Depreciation-Equomen oss on Disposal of Plant Assets To record sale of truck) Question Attempts: I of 3 used SAVE FOR LATER SUDMIT ANSWER SUBMIT