Perfect Spaces Inc. paid cash for a new vehicle for the business on July 1, 2020, for $60,000. The vehicle was estimated to have a useful life of five years and a $5,000 residual value. Perfect Spaces Inc. uses the straight-line method of depreciation, has a December 31 year-end, and makes adjusting entries annually. On September 30, 2021, Perfect Spaces Inc. sold the vehicle for $40,000 cash. Required: Drag and drop to record the disposal of the vehicle on September 30, 2021. Your first journal entry should be to record any necessary depreciation. Assume depreciation had already been recorded up until December 31, 2020. Date Sept 30, 2021 Account Name Sept 30, 2021 Cash Accumulated depreciation - vehicles Accounts payable Machinery Depreciation expense DEBIT CREDIT Vehicles Buildings Gain on sale of vehicle Accounts receivable Accumulated depreciation building - Land Accumulated depreciation - land Accumulated depreciation - machinery Accumulated depreciation - vehicles Loss on sale of vehicle 8,250 60,000 5,500 750 11,750 3,500 19,250 55,000 40,000||16,500 Cash 13,750 11,000 6,250