On July 1, 2020, Molly's Greenhouse purchased a new delivery truck for $76,000. 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 175,000 kilometres and a residual value of $6,000. 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 $30,350 on January 1, 2024. By using straight-line method the carrying amount is $27,000. Gain on disposal $ 3350 Molly sold the truck for $22,750 on January 1, 2024. By using straight-line method the carrying amount is $27,000. (Loss) von disposal 4250 Molly sold the truck for $19,000 on July 1, 2024. Molly used the straight-line method. (Loss) on disposal $ 1000 Molly sold the truck for $19,000 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 for the amounts.) Account Titles and Explanation Debit Credit Date July 1, 2024 Depreciation Expense 7000 7000 (To record depreciation expense on vehicle) July 1, 2024 19000 56000 1000 76000 (To record sale of vehicle)