Recording Plant Asset Disposals On January 1, 2020, Hatter Company purchased a truck costing $62,000. The truck had an estimated salvage value of zero and an estimated useful life of 10 years. The straight-line depreciation method is used. Required: In the attached workpaper #3, give the general journal entry required to record the disposal of the truck in each of the following independent cases (note in the date column of the journal, simply enter the case number.) 1. The truck is discarded at the end of year 10. 2. The truck is discarded at the end of year 8. 3. The truck is sold for $21,000 cash at the end of year 7. 4. The truck is sold for $32,000 cash on July 1 of year 5. 5. The truck is exchanged for a new truck at the end of year 6. The old truck has a fair market value of $22,000 and Hatter Company pays $55,000 cash in the exchange, which is presumed to have commercial substance. 6. The truck is exchanged for a new truck at the end of year 6. The old truck has a fair market value of $28,000 and Hatter Company pays $49.000 cash in exchange, which is presumed to have commercial substance. 10 Exam 3 Workpaper #3.pdf 10 Exam 3 Workpaper #3.xlsx Upload your completed workpaper here. F A B C Recording Plant Asset Disposals GENERAL JOURNAL Date Account Titles DR CR 1