Chart of Accounts General Journal Analysis Instructions Swann Company sold a delivery truck on April 1, 2019. Swann had acquired the truck on January 1, 2015, for $12,000. At acquisition, Swann had estimated that the truck would have an estimated life of 5 years and a residual value of $5,000 Swann uses the straight-line method of depreciation. At December 31, 2018, the truck had a book value of $12.400. Required: 1. Prepare any necessary journal entries to record the sale of the truck, assuming it sold for a. $12,000 b. $9,000 2. How should the gain or loss on disposal be reported on the income statement? 3. Assume that Swann uses IFRS and sold the truck for $12,000. In addition, Swann had previously recorded a revaluation surplus related to this machine of $4,000. What journal entries are required to record the sale? Chart of Accounts General Journal Analysis Instructions General Journal Shaded cel 1a. Prepare the necessary journal entries on April 1, 2019 to record 1. Depreciation expense of the delivery truck for 2019 2. The sale of the truck, assuming it did for $12,000 General Journal Instructions How does.grading work? CEMEDALLIOLA DATE ACCOUNT TITLE POST. REF. DEBIT CREDIT 1,850.00 1,850.00 Apr. 19 Depreciation Expense Accumulated Depreciation Apr. 1 Cash Accumulated Depreciation Gain on Disposal of Property. Plant, and Equipment 12,000.00 31,450.00 1.450.00 42,000.00 Trucks Poini Instructions General Journal 10. Prepare the necessary journal enties on April 1, 2019 to record: 1. Depreciation expense of the delivery truck for 2019 2. The sale of the truck, assuming it sold for $9,000 GENERAL JOURNAL Score: 49/75 DATE NCCOUNT TITLE POST REF DERIT CREDIT Apr. 1 Apr. 1 Depreciation Expense Accumulated Depreciation Cash Accumulated Depreciation Loss on Disposal of Property Plant, and Equipment Trucks 3. Assume that Swann uses IFRS and sold the truck for $12,000. In addition, Swann had previously recorded a revaluation surplus related to this machine of $4,000 1. Depreciation expense of the delivery truck for 2019 2. The sale of the truck, assuming it sold for $12,000 3. Other adjustments related to removing the delivery truck from the books General Journal instructions Chart of Accounts General Journal Analysis Instructions General Journal GENERAL JOURNAL Score: 42/100 DATE POST. REF. DEBIT CREDIT Apr. 1 ACCOUNT TITLE Depreciation Expense Accumulated Depreciation Apr.1 Cash Accumulated Depreciation Revaluation Surplus Trucks Gain on Disposal of Property. Plant, and Equipment