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3. Recording purchase, depreciation, and disposal. The following transactions took place for Mahon Industries: 2016: Jan.1 Pu
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Journal entries

Date General Journal Debit Credit
Jan 1 Bulldozer 64000
Cash 64000
May 1 Office furniture 15000
Cash 15000
Dec 31 Depreciation expense 7200
Accumulated depreciation-Bulldozer (64000*10%) 6400
Accumulated depreciation-Furniture (12000/10)*8/12 800
June 30 Cash 11000
Accumulated depreciation 1400
Loss on sale of furniture 2600
Furniture 15000
Dec 31 Depreciation expense (64000*90%*10%) 5760
Accumulated depreciation-Bulldozer 5760
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