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Problem 9-3A B ossom Company had the following assets on January 1, 2017 Useful Life...

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Problem 9-3A B ossom Company had the following assets on January 1, 2017 Useful Life Cost Purchase Date (in years) Salvage Value Item Machinery 85,200 Jan. 1, 2007 Forklift Truck 10 36,000 Jan 1, 2014 40,080 Jn, 2012 3,600 During 2017, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sod on June 30 for s14,400. The truck was discarded on December 31 Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. The company uses straight-line depreciation. All depreciation was up to date as of December 31, 2016. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit To record depreciation expense on forkift) une 30 To record sale of forklift To record depreciation expense on truck) Dec. 31 To record sale of truck)

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