Answer:
 Journal entries are prepared below
Explanation:
Journal entries required are given as follows
Jan. 1 (To record retirement of machinery)  
                                                                      Debit        Credit
Accumulated depreciation-equipment     $69,580
Equipment                                                                   $69,580
June. 30	(To record the depreciation expense on forklift)
                                                                      Debit        Credit
Depreciation expense                                2940
Accumulated depreciation-equipment                       2940
Working
Annual depreciation = $29,400 / 5 years = $5880
depreciation for 6 months = $5880 x 6/12 = $2940
June. 30	(To record sale of forklift)
                                                                         Debit        Credit
Cash                                                                 11760  
Accumulated depreciation-equipment(w)    20580  
Equipment                                                                      29400
Gain on disposal of plant assets                                     2940
Working
Accumulated depreciation = 5880 x 3.5 years
  
Dec. 31	(To record depreciation expense on truck)	
                                                                      Debit        Credit
Depreciation expense                                 3724
Accumulated depreciation-equipment                       3724
Working
Annual depreciation on truck = ($32,736- $2,944) / 8 years = $3724
Depreciation for 2017 = $3724
  
Dec. 31	(To record discarding of the truck)  
                                                                      Debit        Credit
Salvaged materials                                    2,944
Accumulated depreciation-equipment    22344
Loss on disposal of plant assets               7448
Equipment                                                                    32,736 
Working
Accumulated depreciation = 3724 x 6 years = 22,344