1. isposal of Fixed Asset

   Perfect Auto Rentals sold one of its cars on January 1, 2019. Perfect had acquired the car on January 1, 2017, 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 2017 and 2018.

   Required:

   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.

   a.	Cash	fill in the blank 2	fill in the blank 3
   	Accumulated Depreciation	fill in the blank 5	fill in the blank 6
   	Equipment	fill in the blank 8	fill in the blank 9
   	Record sale of car
   b.	Cash	fill in the blank 11	fill in the blank 12
   	Accumulated Depreciation	fill in the blank 14	fill in the blank 15
   	Loss on Disposal of Property, Plant, and Equipment	fill in the blank 17	fill in the blank 18
   	Equipment	fill in the blank 20	fill in the blank 21
   	Record sale of car
   c.	Cash	fill in the blank 23	fill in the blank 24
   	Accumulated Depreciation	fill in the blank 26	fill in the blank 27
   		fill in the blank 29	fill in the blank 30
   	Gain on Disposal of Property, Plant, and Equipment	fill in the blank 32	fill in the blank 33
   	Record sale of car