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*PLEASE INCLUDE THE JOURNAL ENTRY TO RECORD THE DEPRECIATION EXPENSE FOR THE DELIVERY TRUCK ON APRIL 1 2019. THANK YOU Swann Company sold a delivery
*PLEASE INCLUDE THE JOURNAL ENTRY TO RECORD THE DEPRECIATION EXPENSE FOR THE DELIVERY TRUCK ON APRIL 1 2019. THANK YOU Swann Company sold a delivery truck on April 1, 2019 Swann had acquired the truck on January 1, 2015. for $45.000. At cuisition Swann had estimated that the truck would have and of 5 years and residual value of $3,000 Swann uses the straight line method of depreciation Al December 31, 2018, the truck had a book value of $15.400 Required: 1. Prepare any necessary journal entries to record the sale of the truck, assuming sold for $10.850 $7,650 2. How should the gain or loss on disposal be reported on the income statement Assume that Swansea IFRS and told the truck for $10.850. In addition, Swann had previously recorded a revaluation surplus related to this machine of 53.500. What journal entries are required to record the sale
*PLEASE INCLUDE THE JOURNAL ENTRY TO RECORD THE DEPRECIATION EXPENSE FOR THE DELIVERY TRUCK ON APRIL 1 2019. THANK YOU
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