The following are some transactions of Cullumber Company for 2024. Cullumber Company uses straight line depreciation and has a December 31 yer end

April 1 retired a piece of equipment that was purchased on January 1, 2015 for $53,000. The equipment had an expected useful life of 10 years with no residual value.

July 30 Sold equipment for $1,600 cash. The equipment was purchased on January 3, 2022 for $13,320 and was depreciated over an expected useful life of 3 years with no residual value

Nov 10 Traded in an old vehicle for an new vehicle receiving a $10,000 trade in allowance and paying $36,000 cash. The old vehicle had been pruchased on November 1, 2018 at a cost of $37,000. The estimated useful life was 8 years and the estimated residual value was $7,000 . the fair value of the old vehicle was $9,400 on November 1,2024

Record the disposals