View Policies Show Attempt History Current Attempt In Progress The following are some transactions of Sunland Company for 2024. Sunland Company uses straight-line depreciation and has a December 31 year end. Apr. 1 July 30 Nov 1 Retired a piece of equipment that was purchased on January 1, 2015, for $48,000. The equipment had an expected useful life of 10 years with no residual value. Sold equipment for $1,400 cash. The equipment was purchased on January 3, 2022, for $12,960 and was depreciated over an expected useful life of three years with no residual value Traded in an old vehicle for a new vehicle, receiving a $10,000 trade-in allowance and paying $36,000 cash. The old vehicle had been purchased on November 1, 2018, at a cost of $33,300. The estimated useful life was eight years and the estimated residual value was $6,900. The fair value of the old vehicle was $9.100 on November 1, 2024 (a) Your Answer Correct Answer Your answer is partially correct For each of these disposals, prepare a journal entry to record depreciation from January 1, 2024, to the date of disposal, if required. (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 debit entry before credit entry Record journal entries in the order presented in the problem) Date Account Titles Debit Credit Your Answer Correct Answer Your answer is partially correct. For each of these disposals, prepare a journal entry to record depreciation from January 1, 2024, to the date of disposal, if required. (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 debit entry before credit entry. Record journal entries in the order presented in the problem) Date Account Titles Apr. 1 Deprecation Expense Accumulated Depreciation Equipment July 30 -> Deprecation Expense Accumulated Depreciation Coupment Debit $1.200 $2.820 Credit ) Record the disposals. (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. Record Journal entries in the order presented in the problem) Date Account Titles Debit Credit