7. V's Violins decides to sell some equipment. The equipment was purchase for $35000 and has $8000 of accumulated depreciation. The equipment is sold for $25000 on December 31st. Record the Journal Entry for the Sale. (hint - use gain or loss) (4A 1C) Type your response here... 1. Mr. V owns V's Violins, a company which sells violins. He hires you as an accountant. a) Name 3 people or groups of people who would care about his financial statements. (3K) b) What are 2 reasons Mr. V would care that he has accurate accounting information for his business? (2T) c) Mr. V uses $600 from his personal bank account (instead of the business account) to pay for rent for the business and did not record it in the business' accounting. Explain why this is wrong and what he should have done. (2T) a. Roc, Eoc, Doc