JOURNALIZE THE FOLLOWING TRANSACTIONS PREPARE FINANCIAL STATEMENTS USING THE FOLLOWING DATA Purchased a car for $40,000 and you recorded $32,000 of depreciation to date. The car is sold for $6000. Calculate gain or loss Purchased a car for $40,000 and you recorded $32,000 of depreciation to date. The car is sold for $9000 Calculate gain or loss drive 40,000 miles and year 3 you drive 60,000 miles