Perfect Auto Rentals sold one of its cars on January 1, 2011. Perfect had acquired the car on January 1, 2009, for $13,500. At acquisition Perfect assumed that the car would have an estimated life of three years and a residual value of $3,000. Assume that Perfect has recorded straight-line depreciation expense for 2009 and 2010. Hide 1. Prepare the journal entry to record the sale of the car assuming the car sold for (a) $6,500 cash, (b) $4,000 cash, and (c) $7,200 cash. The company recorded the car as equipment. If no entry required, leave the answer boxes blank a Cash Accumulated Depreciation Equipment Record sale of car b. Cash Accumulated Depreciation Loss on Disposal of Property, P Equipment Record sale of car c. Cash Accumulated Depreciation Galn on Disposal of Property, Equipment