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

Item	Cost	Purchase Date	Years	Salvage Value
Machinery	$78,100	Jan. 1,2007	10	0
Forklift	$33,000	Jan. 1, 2014	5	0
Truck	$36,744	Jan. 1, 2012	8	$3,304

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 $13,200. 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 Jan. 1 Accumulated Depreciation-Equipment 78100 Equipment 78100 June 30Depreciation Expense Accumulated Depreciation-Equipment (To record depreciation expense on forklift) June 30 cash 13200 Accumulated Depreciation-Equipment Equipment Gain on Disposal of Plant Assets (To record sale of forklift)