The following data relate to the Plant Assets account of Kingbird Inc. at December 31, 2019:

		A			B			C			D
Original cost		$45,100			$28,000			$55,000			$73,000
Year purchased		2014			2015			2016			2017
Useful life		10	years		12,000	hours		15	years		10	years
Residual value		$3,000			$4,000			$5,000			$4,700
Depreciation method		straight-line			activity			straight-line			double-declining
Accumulated depreciation through 2019		$21,050			$20,100			$10,000			$26,280

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 years depreciation on the asset. The following transactions occurred during 2020:

1.

On May 5, Asset A was sold for $17,050 cash. The companys bookkeeper recorded this retirement as follows:

Account Titles and Explanation	Debit	Credit
Cash	17,050
Asset A		17,050

2.		On December 31, it was determined that Asset B had been used 3,000 hours during 2020.
3.		On December 31, before calculating depreciation expense on Asset C, Kingbird management decided that Asset Cs 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 2019 had been expensed completely in that year. The asset cost $30,000, 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.

Prepare any necessary adjusting journal entries required at December 31, 2020, as well as any entries to record depreciation for 2020. (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.)

Account Titles and Explanation	Debit	Credit
Accumulated DepreciationAsset DAccumulated DepreciationAsset AAccumulated DepreciationAsset BAsset CRetained EarningsGain on Disposal of AssetsAsset EAsset DAsset BDepreciation ExpenseCashAsset AAccumulated DepreciationAsset CLoss on Disposal of AssetsAccumulated DepreciationAsset ENo Entry
Gain on Disposal of AssetsCashAccumulated DepreciationAsset CNo EntryAccumulated DepreciationAsset EAccumulated DepreciationAsset AAccumulated DepreciationAsset DAsset BAsset DDepreciation ExpenseAccumulated DepreciationAsset BRetained EarningsAsset ELoss on Disposal of AssetsAsset AAsset C
(To record depreciation on Asset A)
Accumulated DepreciationAsset BAccumulated DepreciationAsset DCashAccumulated DepreciationAsset ARetained EarningsGain on Disposal of AssetsAsset CAsset DNo EntryAsset AAsset ELoss on Disposal of AssetsDepreciation ExpenseAsset BAccumulated DepreciationAsset CAccumulated DepreciationAsset E
Accumulated DepreciationAsset CAccumulated DepreciationAsset AAsset AAccumulated DepreciationAsset DAsset DCashAsset CAsset EAccumulated DepreciationAsset BAsset BDepreciation ExpenseNo EntryGain on Disposal of AssetsAccumulated DepreciationAsset ELoss on Disposal of AssetsRetained Earnings
Accumulated DepreciationAsset BCashAsset EDepreciation ExpenseAccumulated DepreciationAsset EAccumulated DepreciationAsset CLoss on Disposal of AssetsAsset BAccumulated DepreciationAsset ANo EntryRetained EarningsGain on Disposal of AssetsAsset DAsset CAsset AAccumulated DepreciationAsset D
(To record disposal of Asset A)
Loss on Disposal of AssetsAsset AAccumulated DepreciationAsset BAccumulated DepreciationAsset CAccumulated DepreciationAsset EAsset EGain on Disposal of AssetsCashAsset CAsset BNo EntryAsset DAccumulated DepreciationAsset ARetained EarningsDepreciation ExpenseAccumulated DepreciationAsset D
Asset CGain on Disposal of AssetsAsset DAccumulated DepreciationAsset CDepreciation ExpenseAccumulated DepreciationAsset ACashLoss on Disposal of AssetsAccumulated DepreciationAsset ENo EntryAccumulated DepreciationAsset DAsset ERetained EarningsAsset AAccumulated DepreciationAsset BAsset B
(To record depreciation on Asset B)
Accumulated DepreciationAsset BAsset ALoss on Disposal of AssetsAccumulated DepreciationAsset DAccumulated DepreciationAsset AGain on Disposal of AssetsAccumulated DepreciationAsset CAccumulated DepreciationAsset EAsset CAsset DAsset BRetained EarningsCashAsset EDepreciation ExpenseNo Entry
CashAccumulated DepreciationAsset EAccumulated DepreciationAsset AAccumulated DepreciationAsset DAsset ARetained EarningsAsset BGain on Disposal of AssetsLoss on Disposal of AssetsAsset CDepreciation ExpenseAsset EAccumulated DepreciationAsset BAccumulated DepreciationAsset CNo EntryAsset D
(To record depreciation on Asset C)
Accumulated DepreciationAsset CAccumulated DepreciationAsset AGain on Disposal of AssetsAsset ACashAccumulated DepreciationAsset BAsset BNo EntryRetained EarningsDepreciation ExpenseAsset DLoss on Disposal of AssetsAsset CAccumulated DepreciationAsset DAsset EAccumulated DepreciationAsset E
Asset EAsset DAccumulated DepreciationAsset CGain on Disposal of AssetsAsset BNo EntryAccumulated DepreciationAsset AAccumulated DepreciationAsset DAccumulated DepreciationAsset BCashLoss on Disposal of AssetsRetained EarningsDepreciation ExpenseAsset AAsset CAccumulated DepreciationAsset E
(To record cost of Asset E)
No EntryAccumulated DepreciationAsset ARetained EarningsAccumulated DepreciationAsset BGain on Disposal of AssetsAsset DAsset CAsset BAsset ECashAsset AAccumulated DepreciationAsset DAccumulated DepreciationAsset EAccumulated DepreciationAsset CDepreciation ExpenseLoss on Disposal of Assets
(To record depreciation on Asset E)
(To record depreciation on Asset D)