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Q2. Journalize the following selected 2014 transactions of XL Corporation, including entries to update depreciation on assets disposed of, where applicable. The company uses straight-line

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Q2. Journalize the following selected 2014 transactions of XL Corporation, including entries to update depreciation on assets disposed of, where applicable. The company uses straight-line depreciation. (15 points) Jan June 1 Retired a piece of machinery that was purchased on January 2004. The machine cost $62,000 and had a useful life of 10 years with no salvage value. 30 Sold a computer that was purchased on January 1, 2012. The computer cost $ 36,000 and had a useful life of 3 years with no salvage value. The computer was sold for $5,000 cash. 31 Sold a delivery truck for $9,000 cash. The truck cost $25,000 when it was purchased on January 1, 2011 and was depreciated based on a 5-year useful life with a $4,000 salvage value. Dec

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