V's Violins purchases a delivery van for $200,000 on Jan 1st in year 1. It will have a residual value of $25,000, and a useful life of 5 years. V's Violins has a year end on Dec 31st. a) Using the Double Declining Balance Method, create the depreciation Table for the Van. (5 marks) Opening Balance Depreciation Acc. To Date Net Balance Value Year 1 200,000 2 3 4 5 Expense 25,000 b) Create the journal entry for recording depreciation for the Van in year 3. (3 marks) c) Create the journal entry to record the sale of the violin at the end of year 4 for $40,000 on December 31st. (5 marks) Date Description Debit Credit