On January 1, 2011, Big Rock Brewery purchased a van for $45,000. Big Rock expects the van to have a useful life of five years and a residual value of $5,000. The depreciation method used was straight-line. On December 31, 2014, the van was sold for $15,000 cash.
1. What was the carrying amount of the van on the date of sale?
2. Record the sale of the van on December 31, 2014.