On July 1, 2009, Strawberry Co. bought a Van worth AED 80,000. The salvage value is AED 20,000, and useful life is 8 years. Depreciation is calculated using the straight-line method. What journal entries would be recorded for the disposal of the Van in the following independent situations? a) On Jan 31, 2012: Van was destroyed in an accident. Insurance paid AED 45,000. b) On March 31, 2012: Van was sold for AED 70,000