Here are selected 2014 transactions of Cleland Corporation.
| Jan. 1 |
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Retired a piece of machinery that was purchased on January 1, 2004. The machine cost $61,270 and had a useful life of 10 years with no salvage value. |
| June 30 |
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Sold a computer that was purchased on January 1, 2012. The computer cost $35,200 and had a useful life of 4 years with no salvage value. The computer was sold for $5,100 cash. |
| Dec. 31 |
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Sold a delivery truck for $9,190 cash. The truck cost $24,540 when it was purchased on January 1, 2011, and was depreciated based on a 5-year useful life with a $3,330 salvage value. |
Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Cleland Corporation uses straight-line depreciation.