View Policies Current Attempt in Progress Cullumber Company had the following assets on January 1, 2022 Useful Life Item Cost Purchase Date (in years) Salvage Value Machinery Forklift Truck $83,000 Jan. 1, 2012 10 $0 42,000 Jan. 1, 2019 5 48.400 Jan. 1, 2017 8 3,000 During 2022, 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, 2021. (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.) Date Account Titles and Explanation Debit Credit Date Account Titles and Explanation Debit Credit (To record depreciation expense on forklift) (To record sale of forklift) 16 (To record sale of forklift) (To record depreciation expense on truck) (To record sale of truck) eTextbook and Media List of Accounts Attempts: 0 of 3 used Submit