1.25 pts Question 7 On July 1, 20x1, one of Sun Devil's delivery vans was completely destroyed in an accident. On that date, the van's book value was $2,500. On July 15, 20x1, Sun Devil received and recorded a $700 invoice for a new engine installed in the van in June that extended the van's life by 3 years. On July 15 they received another $500 invoice for various repairs that had been made to the van in early June. In August, Sun Devil received $3,500 as settlement for the claim under its insurance policy on the van. What amount should Sun Devil report as the gain/loss on disposal of the van? O $1,000 $300 $0 O $(200) Question 8 1.25 pts