Disposal of Fixed Asset

Perfect Auto Rentals sold one of its cars on January 1, 2013. Perfect had acquired the car on January 1, 2011, for $13,500. At acquisition Perfect assumed that the car would have an estimated life of 3 years and a residual value of $3,000. Assume that Perfect has recorded straight-line depreciation expense for 2011 and 2012.

Required:

1. Prepare the journal entry to record the sale of the car assuming the car sold for (a) $6,500 cash, (b) $4,000 cash, and (c) $6,900 cash. The company recorded the car as equipment. If no entry is required, leave the answer boxes blank.