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Record a sale in journal entry - The depreciation method used wasstraight-line On January1,2011, Pizza Notra purchased a van for$45,000. RedRock expects the van to

Record a sale in journal entry - The depreciation method used wasstraight-line

On January1,2011,

Pizza Notra purchased a van for$45,000.

RedRock expects the van to have a useful life of5 years and a residual value of$5,500.

The depreciation method used wasstraight-line.On December31,2014, the van was sold for$15,000 cash.

1.What was the carrying amount of the van at the date ofsale?

2.Record the sale of the van on December31,2014. in journal entry.

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