On January 2,2013 a company purchased a delivery truck for 45,000 cash . The truck had an estimated useful life of seven years and an estimated salvage value of 3,000. The straight line

depreciation method was used.

A. Prepare journal entries to record the updating of the accumulated depreciation account if the truck is sold sept. 1 , 2013.

B. Prepare journal entry to record sale of truck for 40,000