The following data relate to the Plant Assets account of Kingbird Inc. at December 31, 2022: A B C D Original cost $46,900 $51,000 $80,000 $73,000 Year purchased 2017 2018 2019 2020 Useful life 10 years 18,000 hours 15 years 10 years Residual value $4,800 $4,200 $5,000 $4,700 straight- Depreciation method activity line straight- line double- declining Accumulated depreciation $21,050 $26,100 $15,000 $26,280 through 2022 Note: In the year an asset is purchased, Kingbird does not record any depreciation expense on the asset. In the year an asset is retired or traded in, Kingbird takes a full year's depreciation on the asset. The following transactions occurred during 2023: 1. On May 5, Asset A was sold for $17,050 cash. The company's bookkeeper recorded this retirement as follows: 1. On May 5, Asset A was sold for $17,050 cash. The company's bookkeeper recorded this retirement as follows: Cash Asset A 17,050 17,050 2. On December 31, it was determined that Asset B had been used 3,200 hours during 2023. 3. On December 31, before calculating depreciation expense on Asset C, Kingbird's management decided that Asset C's remaining useful life should be nine years as of year end. 4. On December 31, it was discovered that a piece of equipment purchased in 2022 had been expensed completely in that year. The asset cost $33,000, had a useful life of 10 years when it was acquired, and had no residual value. Management has decided to use the double-declining-balance method for this asset, which can be referred to as "Asset E." Ignore income taxes. (a) Prepare any necessary adjusting journal entries required at December 31, 2023, as well as any entries to record depreciation for 2023. (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 O for the amounts. List all debit entries before credit entries. Round depreciation per unit to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,275.) Account Titles and Explanation Debit Depreciation Expense Accumulated Depreciation-Asset A 4210 Credit (To record depreciation on Asset A) Accumulated Depreciation-Asset A 25260 Loss on Disposal of Assets Asset A (To record disposal of Asset A) Depreciation Expense Accumulated Depreciation-Asset B (To record depreciation on Asset B) Depreciation Expense 2790 12000 4000 4210 28050 12000 (To record depreciation on Asset B) Depreciation Expense Accumulated Depreciation-Asset C (To record depreciation on Asset C) Asset E Retained Earnings (To record cost of Asset E) Depreciation Expense Accumulated Depreciation-Asset E (To record depreciation on Asset E) Depreciation Expense Accumulated Depreciation-Asset D 4000 30000 3300 9344 4000 30000 3300 9344 (To record depreciation on Asset E) Depreciation Expense Accumulated Depreciation-Asset D (To record depreciation on Asset D) 9344 9344