Answer Happy

Question 3 of 12 View Policies Show Attempt History Current Attempt in Progress Your answer is partially correct. Presented below are selected transactions at Vaughn Company for 2020. Jan. 1 June 30 Dec. 31 2.27/5: Date Retired a piece of machinery that was purchased on January 1, 2010. The machine cost £62,400 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 £42.900. It had a useful life of 5 years with no residual value. The computer was sold for £15,100. Discarded a delivery truck that was purchased on January 1, 2016. The truck cost £35,340. 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 Vaughn 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.) Account Titles and Explanation Debit Credit