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Selected transactions of the Harrel Company are listed below. The company uses the straight-line method of depreciation.

20X4
Jan.		5		Purchased office equipment at a price of $14,000 FOB. The freight charge was $238; the installation charge was $300.
April		1		Sold warehouse equipment for $13,000 in cash. The equipment was purchased on January 3, 20X1, for $37,000. The equipment has a useful life of five years and a salvage value of $2,000. Depreciation was last recorded on December 31, 20X3.
July		1		Sold office equipment for $4,400 in cash. The equipment was purchased on July 3, 20X1, for $4,500. The equipment has a useful life of five years and a salvage value of $400. Depreciation was last recorded on December 31, 20X3.
20X5
Jan.		2		Traded in office equipment for new equipment that is similar. The list price of the new office equipment is $34,000. Paid $30,000 cash and received a trade-in allowance of $4,000 for the old equipment. The old equipment had been purchased on January 3, 20X1, for $28,000. The old equipment had an estimated useful life of four years and a salvage value of $2,000. Depreciation on the old equipment was last recorded on December 31, 20X4. (Use the income tax method to record the trade-in.)
Jan.		4		Traded in warehouse equipment for new equipment that is similar. The list price of the new warehouse equipment is $40,000. Paid $38,000 cash and received a trade-in allowance of $2,000 for the old equipment. The old equipment had been purchased on January 4, 20X1, for $38,000. The old equipment had an estimated useful life of four years and a salvage value of $3,000. Depreciation on the old equipment was last recorded on December 31, 20X4. (Use the fair market value method to record the trade-in.)

Prepare the entries in general journal form to record these transactions. (Do not round intermediate calculations. Use accounts designated as 'New' or 'Old' only when there is an exchange of assets. Do not use these accounts when recording depreciation or recording the sale of an asset.)

Journal entry worksheet 4 5 Note: Enter debits before credits. Journal entry worksheet 4 5 6 Record depreciation for warehouse equipment. Note: Enter debits before credits. Journal entry worksheet 5 Note: Enter debits before credits. Journal entry worksheet 1 Note: Enter debits before credits. Journal entry worksheet 12 Note: Enter debits before credits. Journal entry worksheet Record trade-in old office equipment for new office equipment. Note: Enter debits before credits. Journal entry worksheet 1 4 Record trade-in old warehouse equipment for new warehouse equipment. Note: Enter debits before credits

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