On January 1, 2017, Hong Kong Internationoal Airport Limousine Co. purchased a limo at an acquisition cost of HK$280,000, The vehicle has been depreciated by the straight-line method using a 4-year service life and a HK$40,000 residual value. The company's fi scal year ends on December 31. Instructions: Prepare the journal entry or entries to record the disposal of the limousine assuming that it was. (a) Retired and scrapped with no residual value on January 1, 2021. (b) Sold for HKSSS0,000 on July 1, 2020.