Question 1 for 5 1. 1000 ponts Cadilac Construction Company uses the retirement method to determine deprecueion on its smal toolks Duing 2014, the first year of the company's operations, tools were purchased at a cost of $15,000 In 2016, tools onginaly costing $5,800 were sold for $1.200 and replaced with new toois costing $6,700 Prepare tournal enines 10 record each lhe iatove transactions (If no entry is required for a ransactionevent, selct No joarnal entry required" in the first account field. Journal entry worksheet Record thie purchase of small tools forns,000 cesh using the retremunt TOSHI 2 3 4 5 shift