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On January 1, 2014, Paul Company purchased a delivery truck for $ 45,000. Management estimated depreciation to be $ 10,000 per year. On June 30,

On January 1, 2014, Paul Company purchased a delivery truck for $ 45,000. Management estimated depreciation to be $ 10,000 per year. On June 30, 2017, management sold the delivery van for $ 7,000.

Required: Prepare journal entries for June 30, 2017.

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