Here are selected 2025 transactions of Pronghorn Corporation. Jan. 1 Retired a piece of machinery...
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Here are selected 2025 transactions of Pronghorn Corporation. Jan. 1 Retired a piece of machinery that was purchased on January 1,2015. The machine cost $62,000 and had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1, 2023. The computer cost $35,400 and had a useful life of 4 years with no salvage value. The computer was sold for $5,600 cash. Dec. 31 Sold a delivery truck for $9,280 cash. The truck cost $25,000 when it was purchased on January 1,2022 , and was depreciated based on a 5 -year useful life with a $3,700 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Pronghorn Corporation uses straight-line depreciation. (List all debit entries before credit entries. 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
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Here are selected 2025 transactions of Pronghorn Corporation. Jan. 1 Retired a piece of machinery that was purchased on January 1,2015. The machine cost $62,000 and had a useful life of 10 years with no salvage value. June 30 Sold a computer that was purchased on January 1, 2023. The computer cost $35,400 and had a useful life of 4 years with no salvage value. The computer was sold for $5,600 cash. Dec. 31 Sold a delivery truck for $9,280 cash. The truck cost $25,000 when it was purchased on January 1,2022 , and was depreciated based on a 5 -year useful life with a $3,700 salvage value. Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Pronghorn Corporation uses straight-line depreciation. (List all debit entries before credit entries. 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 