Blossom Company had the following assets on January 1, 2022. Item Useful Life (in years) Salvage Value $0 10 Machinery Forklift Truck Cost $81,000 40,000 46,400 Purchase Date Jan 1, 2012 Jan 1, 2019 Jan 1, 2017 5 0 3,000 8 During 2022, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $13,000. 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, 2021. (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 for the amounts.) During 2022, each of the assets was removed from service. The machinery was retired on January 1. The forklift was sold on June 30 for $13,000. The truck was disc Journalize all entries required on the above dates, including entries to update depreciation, where applicable, on disposed assets. The company uses straight-line de enter for the amounts) Date Account Titles and Explanation Debit Credit Jan. 1 Accumulated Depreciation Equipment 81000 Equipment 81000 June 307 Depreciation Expense Accumulated Depreciation Equipment (To record depreciation expense on forklift) Cash June 30 Accumulated Depreciation-Equipment Equipment 40000 Gain on Disposal of Plant Assets (To record sale of forklift) Dec. 31 Depreciation Expense Accumulated Depreciation Equipment (To record depreciation expense on truck) Dec 31 Accumulated Depreciation Equipment Loss on Disposal of Plant Assets Equipment (To record sale of truck)