On July 1, 2020, Molly's Greenhouse purchased a new delivery truck for $65,000. She paid a $20,000 cash and signed a promissory note for the remainder. Molly estimates that the delivery truck will have a five-year useful life, or 200,000 kilometres and a residual value of $5,000. Molly's Greenhouse has a December 31 year end. Calculate the gain or loss on disposal for the following three independent situations: Molly sold the truck for $25,000 on January 1, 2024. By using straight-line method the carrying amount is $23,000. V on disposal $ Molly sold the truck for $20,000 on January 1, 2024. By using straight-line method the carrying amount is $23,000. on disposal $ Molly sold the truck for $16,000 on July 1, 2024. Molly used the straight-line method. on disposal $ Molly sold the truck for $16,000 on July 1, 2024. Using straight line method, prepare the journal entries for the above situation. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter Ofor the amounts.) Account Titles and Explanation Debit Credit Date July 1, 2024 (To record depreciation expense on vehicle) July 1, 2024 (To record sale of vehicle)