On July 9, 2019, Blane's purchased a truck for $27,000 with a $2,000 salvage value, is expected to last five years & 40,000 miles. Usethe partial year convention to depreciate fractional periods and straight-line. Note: you may not require all the given information to solve.

If the truck was sold December 31, 2020 for $17,000, what is the required journal entry to record the sale.