Selected transactions of the Harrel Company are listed below. The company uses the straight-line method of depreciation. Record the transactions on page 9 of a general journal. Omit descriptions.
2019
Jan. 5 Purchased office equipment at a price of $6,000 FOB. The freight charge was
$48; the installation charge was $200.
April 1 Sold warehouse equipment for $5,000 in cash. The equipment was purchased on January 3, 2016, for $18,000. The equipment has a useful life of five years and a salvage value of $1,000. Depreciation was last recorded on December 31, 2018.
July 1 Sold office equipment for $2,500 in cash. The equipment was purchased on July 3, 2016, for $3,500. The equipment has a useful life of five years and a salvage value of $500. Depreciation was last recorded on December 31, 2018.
2020
Jan. 2 Traded in office equipment for new equipment that is similar. The list price of the new office equipment is $15,000. Paid $9,000 cash and received a trade-in allowance of $6,000 for the old equipment. The old equipment had been purchased on January 3, 2016, for $12,000. The old equipment had an estimated useful life of five years and a salvage value of $2,000. Depreciation on the old equipment was last recorded on December 31, 2019. (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 $26,000. Paid $20,000 cash and received a trade-in allowance of $6,000 for the old equipment. The old equipment had been purchased on January 4, 2016, for $24,000. The old equipment had an estimated useful life of five years and a salvage value of $4,000. Depreciation on the old equipment was last recorded on December 31, 2020. (Use the fair market value method to record the trade-in.)

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The Answer of Selected transactions of the Harrel Company are listed below. The company uses the straight-line method of depreciation. Record the transactions on page 9 of a general journal. Omit descriptions.
2019
Jan. 5 Purchased office equipment at a price of $6,000 FOB. The freight charge was
$48; the installation charge was $200.
April 1 Sold warehouse equipment for $5,000 in cash. The equipment was purchased on January 3, 2016, for $18,000. The equipment has a useful life of five years and a salvage value of $1,000. Depreciation was last recorded on December 31, 2018.
July 1 Sold office equipment for $2,500 in cash. The equipment was purchased on July 3, 2016, for $3,500. The equipment has a useful life of five years and a salvage value of $500. Depreciation was last recorded on December 31, 2018.
2020
Jan. 2 Traded in office equipment for new equipment that is similar. The list price of the new office equipment is $15,000. Paid $9,000 cash and received a trade-in allowance of $6,000 for the old equipment. The old equipment had been purchased on January 3, 2016, for $12,000. The old equipment had an estimated useful life of five years and a salvage value of $2,000. Depreciation on the old equipment was last recorded on December 31, 2019. (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 $26,000. Paid $20,000 cash and received a trade-in allowance of $6,000 for the old equipment. The old equipment had been purchased on January 4, 2016, for $24,000. The old equipment had an estimated useful life of five years and a salvage value of $4,000. Depreciation on the old equipment was last recorded on December 31, 2020. (Use the fair market value method to record the trade-in.)

Selected Transactions of the Harrel Company Are Listed Below