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Presented below are selected transactions at Riverbed Company for 2020. Jan. 1 Retired a piece...

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Accounting

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Presented below are selected transactions at Riverbed Company for 2020. Jan. 1 Retired a piece of machinery that was purchased on January 1, 2010. The machine cost 62,000 on that date. It had a useful life of 10 years with no residual value. Sold a computer that was purchased on January 1, 2017. The computer cost 39,700. It had a useful life of 5 years with no residual value. The computer was sold for 14,100. June 30 Dec. 31 Discarded a delivery truck that was purchased on January 1, 2016. The truck cost 34,320. It was depreciated based on a 6-year useful life with a 3,000 residual value. Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on assets disposed of. Riverbed Company uses straight-line depreciation. (Assume depreciation is up to date as of December 31, 2019.) (Credit account titles are automatically indented when amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record depreciation) Date Account Titles and Explanation Debit Credit (To record depreciation) (To record the sale of equipment) (To record depreciation) (To record the discarding of equipment)

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