PROBLEMS: 2 15 POINTS ON JULY 1, 2019 SNYDER COMPANY PURCHASED A NEW CAR FOR $ 25,000.00 THE COMPANY DEPRECIATED THIS CAR UNDER THE FOLLOWING ASSUMPTION: LIFE: 5 YEARS SALVAGE VALUE: 5000.00 METHOD OF DEPRECIATION: DOUBLE DECLINING BALANCE INSTRUCTIONS: PREPARE JOURNAL ENTRY UNDER THE FOLLOWING ASSUMPTIONS: A. ON APRIL 1,2021 COMPANY SOLD THIS CAR FOR 11,000.00 B.ON APRIL 1, 2021 COMPANY TRADED THIS CAR FOR A NEW CAR. THE NEW CAR HAS A CASH PRICE PRICE 22000.00. THE COMPANY PAID 14,000 CASH FOR THE NEW CAR. C.ON APRIL 1,2021 COMPANY TRADED THIS CAR FOR A NEW CAR. THE NEW CAR HAS A CASH PRICE PRICE 24000.00. THE COMPANY PAID 10,000 CASH FOR THE NEW CAR.