OCL Industries discontinued the use of two assets during the fiscal year 2022 (the year end is December 31, 2022): a) A piece of equipment originally costing $400,000 was shut down and placed in the corner of the manufacturing facility on July 31, 2022. It is being depreciated over 10 years using a salvage value of $40,000. On January 1, 2022, accumulated depreciation totalled $288,000. The piece of equipment has not been depreciated in 2022. Due to the specialized nature of the equipment, it cannot be sold and OCL is not planning to use the equipment in the future. b) OCL produces widgets with a piece of machinery that had an original cost of $310,000. Accumulated depreciation on the machine as of January 1, 2022, was $248,000, and no depreciation has been recognized in 2022. The machine has no salvage value and is being depreciated over 10 years. On September 1, OCL decided to stop producing widgets until demand increased again (demand was expected to increase in December). Required: Prepare the appropriate entries for the year 2022 with regards to both the equipment and the piece of machinery. Date Account Titles and Explanation Debit Credit