Prepare journal entries to record the following. Prepare entries for disposal by retirement.

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Prepare journal entries to record the following. Prepare entries for disposal by retirement.

(a) Perez Company retires its delivery equipment, which cost $41,000. Accumulated depreciation is also $41,000 on this delivery equipment. No salvage value is received.
(b) Assume the same information as (a), except that accumulated depreciation for Perez Company is $37,000, instead of $41,000.

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