2. On April 1 of Year 1, ABC Company purchased a company car with a cost of $40,000 and a useful life of 100,000 miles with a salvage value at that time of 515,000 . The cir was driven 20,000 miles in Year 1 and 50,000 miles in Year 2 , In Year 3, it was decided that the car would only last 20,000 more miles and the salyage value at that time would only be $5,500. The car was driven 15,000 miles in Year 3 and 6,000 miles in Year 4 . It was sold for 54.800 at that time. Prepare all of the journal entries need from purchase to sale for this car. 2. On April 1 of Year 1,ABC Company purchased a company car with a cost of $40,000 and a useful life of 100,000 miles with a salvage value at that time of $15,000. The car was driven 20,000 miles in Year 1 and 50,000 miles in Year 2. In Year 3, it was decided that the car would only last 20,000 more miles and the salvage value at that time would only be $5,500. The car was driven 15,000 miles in Year 3 and 6,000 miles in Year 4 . It was sold for $4,800 at that time. Prepare all of the journal entries need from purchase to sale for this car. 2. On April 1 of Year 1, ABC Company purchased a company car with a cost of $40,000 and a useful life of 100,000 miles with a salvage value at that time of 515,000 . The cir was driven 20,000 miles in Year 1 and 50,000 miles in Year 2 , In Year 3, it was decided that the car would only last 20,000 more miles and the salyage value at that time would only be $5,500. The car was driven 15,000 miles in Year 3 and 6,000 miles in Year 4 . It was sold for 54.800 at that time. Prepare all of the journal entries need from purchase to sale for this car. 2. On April 1 of Year 1,ABC Company purchased a company car with a cost of $40,000 and a useful life of 100,000 miles with a salvage value at that time of $15,000. The car was driven 20,000 miles in Year 1 and 50,000 miles in Year 2. In Year 3, it was decided that the car would only last 20,000 more miles and the salvage value at that time would only be $5,500. The car was driven 15,000 miles in Year 3 and 6,000 miles in Year 4 . It was sold for $4,800 at that time. Prepare all of the journal entries need from purchase to sale for this car