3. Express Co.has delivery equipment that cost $45,000 when it was purchased on July 1, 2000. The delivery equipment has a useful life of five years, with an expected residual value of $5,000. The equipment sold on June 30, 2003. Express Co. uses the straight-line method of amortization. Instructions: Record the journal entries to dispose of this asset under the following assumptions: a) It was scrapped as having no value. b) It was sold for $25,000. c) It was sold for $18,000