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eBook Show Me How Disposal of Fixed Asset Perfect Auto Rentals sold one of its cars on January 1, 2019. Perfect had acquired the car on January 1, 2017 for $13,500. At acquisition Perfect assumed that the car would have an estimated life of 3 years and a residual value of $3,000. Assume that perfect has recorded straight-line depreciation expense for 2017 and 2010, Required: Prepare the journal entry to record the sale of the car assuming the car sold for (a) $6,500 cash, (b) $4,000 cash, and (c) $6,800 cash. The company recorded the car as equipment. If no entry is required, leave the answer boxes blank. a. Cash 6.500 Accumulated Depreciation Equipment Record sale of car 7.000 11. 4,000 b. Cash 7.000 2.500 13.00 Accumulated Depreciation Loss on Disposal of Property Plant and Equipment Equipment Record sale of car 470 X 7.000 200 X c. Cash Accumulated Depreciation Gain on Disposal of Property Plant, and Equipment Equipment 1500