Oriole company sells office equipment on july 31, 2022, for $20,280 cash. the office equipment originally cost $78,950 and as of january 1, 2022, had accumulated depreciation of $38,410. depreciation for the first 7 months of 2022 is $4,410. prepare the journal entries to (a) update depreciation to july 31, 2022, and (b) record the sale of the equipment. (credit account titles are automatically indented when amount is entered. do not indent manually. if no entry is required, select "no entry" for the account titles and enter 0 for the amounts.)

Solomon chemical company makes three products, b7, k6, and x9, which are joint products from the same materials. in a standard batch of 320,000 pounds of raw materials, the company generates 70,000 pounds of b7, 150,000 pounds of k6, and 100,000 pounds of x9. a standard batch costs $3,840,000 to produce. the sales prices per pound are $10, $14, and $20 for b7, k6, and x9, respectively. (a) allocate the joint product cost among the three final products using weight as the allocation base. (b) allocate the joint product cost among the three final products using market value as the allocation base. (c) allocate the joint product cost among the three final products using weight as the allocation base.