Exercise 4: Another example for fixed asset depreciation and disposal. Little Caesar's Pizza bought a used Nissan delivery van on January 1, 2001, for $15,000. The van was expected to remain in service 4 years (100,000 miles). At the end of its useful life, Little Cacsa, s officials estimated that the van's residual value would be $3,000. The van traveled 34,000 miles the first year, 28,000 the second year, 18,000 the third year, and 20,000 in the fourth year. Requirements: 1. Prepare a schedule of depreciation expense per year for the van under the following depreciation methods: (1) straight line and (2) unit-of-production. Show your computation. 2. Which of the above methods best tracks the wear and tear on the van? 3. On January 1, 2005. Little Caesar sold the van for $3,600 on credit. Prepare journal entries for the sales of the van on January 1, 2005