Meca Concrete purchased a mixer on January 1, 2014. at a cost of $45,000. Straight-line depreciation for 2014 and 2015 was based on an estimated eight-year life and $3,000 estimated residual value. Provide the journal entry to record the purchase of the mixer. Assume it was a cash purchase. Provide the journal entry to record depreciation for 2015. In 2016, Meca revised its estimate and now believes the mixer will have a total service life of only six years, and that the residual value will be only $2,000. Compute depreciation for 2016. What is the book value for the mixer at the end of 2017? On January 1, 2018. Meca sells the mixer to another company for $20,000? Provide the journal entry to record the sale. If Meca had instead recorded a loss of 3.250 on the sale of the mixer, how much cash would they have received in the transaction