Problem 9-3A

Crane Company had the following assets on January 1, 2017.

Item		Cost		Purchase Date		Useful Life (in years)		Salvage Value
Machinery		$69,580		Jan. 1, 2007		10		$ 0
Forklift		29,400		Jan. 1, 2014		5		0
Truck		32,736		Jan. 1, 2012		8		2,944

During 2017, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $11,760. 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.)

Date	Account Titles and Explanation	Debit	Credit
choose a transaction date Jan. 1June 30Dec. 31	enter an account title	enter a debit amount	enter a credit amount
	enter an account title	enter a debit amount	enter a credit amount
choose a transaction date Jan. 1June 30Dec. 31	enter an account title to record depreciation expense on forklift	enter a debit amount	enter a credit amount
	enter an account title to record depreciation expense on forklift	enter a debit amount	enter a credit amount
	(To record depreciation expense on forklift)
June 30	enter an account title to record sale of forklift on June 30	enter a debit amount	enter a credit amount
	enter an account title to record sale of forklift on June 30	enter a debit amount	enter a credit amount
	enter an account title to record sale of forklift on June 30	enter a debit amount	enter a credit amount
	enter an account title to record sale of forklift on June 30	enter a debit amount	enter a credit amount
	(To record sale of forklift)
choose a transaction date Jan. 1June 30Dec. 31	enter an account title to record depreciation expense on truck	enter a debit amount	enter a credit amount
	enter an account title to record depreciation expense on truck	enter a debit amount	enter a credit amount
	(To record depreciation expense on truck)
Dec. 31	enter an account title to record sale of truck on December 31	enter a debit amount	enter a credit amount
	enter an account title to record sale of truck on December 31	enter a debit amount	enter a credit amount
	enter an account title to record sale of truck on December 31	enter a debit amount	enter a credit amount
	(To record sale of truck)