Denzel Ltd purchased a delivery truck on 1 January 2013 at the cost of $35,000. The delivery truck has residual value $3,500, and it is depreciated based on 7 years useful life using the straight-line deprecation method. The delivery truck was discarded/scrapped on 31 December 2017. Assume that the accounting period ends on 31 December. Required: a) Prepare the journal entry to record the discarding/scraping of the delivery truck on 31 December 2017. b) Instead of discarding, assume the delivery truck was sold for $15,000 cash. Prepare the journal entry to record the disposal of the delivery truck on 31 December 2017. Ignore GST. Narrations are not required. Answers: a)