Pine Tree Company sold a delivery truck that it had purchased three years ago. The original purchase price was $70,000. Accumulated depreciation on the delivery truck was $21,000. The delivery truck sold for $45,000. Cash was received. What was the book value of the delivery truck at the time of its sale? What was the amount of gain or (loss) on the sale of the delivery truck? Prepare the journal entry to record the sale of the delivery truck. Use general journal form.