Question

Question 2 iew Policies Current Attempt in Progress Here are selected 2017 transactions of Blue Corporation Jan Retired a piece of machinery that was purchased on January 1, 2007. The machine cost $61.100 and had a useful life of 10 years with no salvage value. Sold a computer that was purchased on January 1, 2015. The computer cost $36,000 and had a useful life of 4 years with no salvage value. The computer was sold for $4,300 cash. 30 Sold a delivery truck for 59,090 cash. The truck coils24,800 when it was purchased on January 1, 2014 and was depreciated based on a 5-year useful life with a $4,100 salvage value 31 Journalist all entries required on the above dates, including entries to update depreciation on assets disposed of where applicable Blue Corporation uses straight-line depreciation (Record entries in the order displayed in the problem statement Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts) Date Account Tities and Explanation Debit Credit

Please help me with my journal entries

Answer 1

Journal entries

Date	Account and explanation	Debit	Credit
Jan 1	Accumulated depreciation-Machine	61100
	Machine		61100
June 30	Depreciation expense (36000/4)/2	4500
	Accumulated depreciation-Computer		4500
June 30	Cash	4300
	Accumulated depreciation-Computer (36000/4*2.5)	22500
	Loss on sale of computer	9200
	Computer		36000
Dec 31	Depreciation expense (24800-4100/5)	4140
	Accumulated depreciation-Delivery truck		4140
Dec 31	Cash	9090
	Accumulated depreciation-Delivery truck (4140*4)	16560
	Gain on Sale of delivery truck		850
	Delivery truck		24800