Instructions Swann Company sold a delivery truck on April 1, 2019. Swann had acquired the truck on January 1, 2016. for $39.500. A acquisition. Swann had estimated that the truck would have an estimated life of 5 years and a residual value of $3.000. Swann uses the straight line method of depreciation. Au December 31. 2018, the truck had a book value of $10,300. Required: 1. Prepare any necessary foumal entries to record the sale of the truck assuming it sold for. 2. $10.125 b. 90.725 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 $10, 125. In addition, Swann nad previously recorded a revaluation surplus related to this machine of $4 000. What foumal entries are required to record the sale 1a. Prepare the necessary Journal entries on April 1, 2010 to record. 1. Depreciation expense of the delivery truck for 2010 2. The sale of the truck, assuming it sold for $10,125 General joumal Instructions PAGE 9 GENERAL JOURNAL ACCOUNTITLE POST. REF. DEBIT CREDIT 3 HHHH 10. Prepare the necessary journal entries on April 7, 2010 to recordi 1. Depreciation expense of the delivery truck for 2010 2. The sale of the truck, assuming it solo for $0,725 General Journal insouchons PAGE 9 GENERAL JOURNAL ACCOUNT TITLE POST. REF CREDIT 3 Acumentace France 3. Assume that Swann uses IFRS and sold the truck for $10,125. In addition Swann had previously recorded a revaluation surplus related to this machine of $4,000. 1. Depreciation expense of the delivery truck for 2010 2. The sale of the truck assuming it sold for $10,125 3. Other adjustments related to removing the delivery truck from the books General Journal Insons PAGES GENERAL JOURNAL ACCOUNT TITLE POSTRES DEBIT CREDIT 3 2. How should Ire gain or loss on Oisposal be reported on the income statemen:? The gener loss is normally reported in income or expense from continuing operations in the category