The year is 2022 (To record the sale of equipment.)(To record depreciation expense.)(To record sale of vehicle.)>> Here are selected 2022 transactions of Sandhill Corporation.Jan. 1Retired a piece of furniture that was purchased on January 1, 2012. The furniture cost $73,600 and had a usefullife of 10 years with no residual value.Sold equipment that was purchased on January 1, 2020. The equipment cost $46,800 and had a useful life of 3years with no residual value. The equipment was sold for $6,000 cash.June 30Sold a vehicle for $11,200 cash. The vehicle cost $30,000 when it was purchased on January 1, 2019, and wasdepreciated based on a 5-year useful life with a $4,400 residual value.Dec. 31Sandhill Corporation uses straight-line depreciation.Prepare all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable.(Credit account titles are automatically indented when the amount is entered. Do not indent manually. List all debit entries before creditentries. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.)DateAccount Titles and ExplanationDebitCredit(To record depreciation expense.)

Step 1 Journal is the part of book keeping.

Business

Accounting

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FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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