Close XAM (ACCT202 Gr.03) w00, TOO some other amount 4. Brown Inc. acquired a delivery van on October 1, 2017 at a cost of $45,000. The useful life of the van was 12 years with a residual value of $3,000. Assume that the company used straight-line method with fractional years rounded to the nearest whole month. The delivery van was traded-in with a new one as of end of the year of 2018 (December 31, 2018). The list price of the new delivery van was $56,000. The Brown Inc. accepted a trade-in allowance of $40,400 and paid the remaining amount in cash to get the new van. In recording the trade-in, which of the following is correct? * (3 Points) Accumulated depreciation of the old van is debited by $3,375 Accumulated depreciation of the old van is credited by $4,375 Accumulated depreciation of the old van is debited by $4,375 O Accumulated depreciation of the old van is credited by $3,375 5. You are to prepare the bank reconciliation of Tree Company at March 31, using the following supplementary information: (a.) Deposit in transit at March 31, $4,372. (b.The following checks were issued by Tree in pavment of utilities but these checks had not