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Q2. NC purchased a cement mixer for $ 14500. The mixer is expected to have a useful life of five years and a residual value of S 1000 at the end of that time. Required: Prepare the journal entries to record the disposal of the mixer at the end of second year, assume the straight line depreciation method was used and that: It was sold for S 10000 cash 5 Marks) It was sold for S 8000 cash (5 Marks) It was traded in on a similar mixer (new) having a list price of S 16500, a trade in allowance of S 8000 was given and the balance was paid in cash. (5 Marks). a. b. 1