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Here are selected 2022 transactions of Indigo Corporation. Jan. 1 Retired a piece of machinery that was purchased on January

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Journal entry

Date account and explanation debit credit
Jan 1 Accumlated depreciation-Machinery 61800
Machinery 61800
(To record machine retired)
June 30 Depreciation expense (37000/4)*6/12 4625
Accumlated depreciation-Computer 4625
(To record dep)
June 30 Cash 4000
Accumlated depreciation-Computer (37000/4)*2.5 23125
Loss on sale of computer 9875
Computer 37000
(To record sale of computer)
Dec 31 Depreciation expense (23600-3200)/5 4080
  Accumlated depreciation-Delivery truck 4080
(To record dep)
Dec 31 Cash 9380
Accumlated depreciation-Delivery truck (4080*4) 16320
Gain on sale of delivery truck 2100
Delivery truck 23600
(To record sale of truck)
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