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Submit qu stion 1 of 9 This quiz: 20 point(s) possible This question: 9 point(s) possible On January 1, 2017, Red Rock Brewery purchased a
Submit qu stion 1 of 9 This quiz: 20 point(s) possible This question: 9 point(s) possible On January 1, 2017, Red Rock Brewery purchased a van for $40,000. Red Rock expects the van to have a useful life of five years and a residual value of $9,000. The depreciation method used was straight-line. On December 31, 2020, the van was so $23,000 cash. Requirements 1. What was the carrying amount of the van at the date of sale? 2. Record the sale of the van on December 31, 2020. *** Requirement 1. What was the carrying amount of the van at the date of sale? (Round to the nearest whole dollar.) The carrying amount of the van at the date of sale was $ Requirement 2. Record the sale of the van on December 31, 2020. (Record debits first, then credits. Explanations are not required.) Date Accounts Debit Credit December 31, 2020
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