Skywaves Corporation had a truck with an original cost of $40,000 and estimated useful life of 10 years with no salvage value. On November 1, 2019 the company sold the truck and again of $4,000 was recorded. The accumulated depreciation on the disposal day was $32.000. On November 1, 2019 the cash received was: O $12,000 O $10,000 O $14,000 $6,000 None of the above Noura Company purchases a car on January 1, 2018 for $42,000 with a 4-year useful life and no salvage value. On June 30, 2020 the company exchanges the car for a new one paying $2,000 and giving them the old car. On the day of exchange, the old car has a fair value of $12,000. Depreciation expense on 2020 is: $5,250 O $10,500 O $7,500 $26,250 None of the above On the disposal day the company recorded:* Debit Gain on Disposal $3,750 O Debit Loss on Disposal $3,750 O Credit Gain on Disposal $3,750 Credit Loss on Disposal $3,750 O None of the above