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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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