The following transactions were completed by Pearl Company during its year ended 31 December 2021

: Jan. 1	Purchased a van for $120,000 with a $5,000 salvage value. Also paid $350 for the annual van license. All payments were made in cash.
Jan. 1	Discarded a machine that had cost $10,000 and had accumulated depreciation of $8,500 as of December 31, 2020, the end of the previous accounting year. The machine had no salvage value. Record the discarding of this machine.
Jul. 2	Purchased a music copyright for $80,000 with a useful life of 10 years.
Oct. 1	Paid $2,500 cash for vans yearly oil replacement.
Nov. 1	Completed the addition and installation of an automated control system to a machine at a cost of $1,800. This improvement results in reduced labor costs for the machine in future periods.
Dec. 31	Recognized annual depreciation on the van, assuming a 100,000-miles van life while 10,000 miles were driven during 2021.
Dec. 31	Recognized the annual amortization on the music copyright.