Your business operates on July 1 to June 30 fiscal year basis. On April 5, 2020 you purchased a new delivery truck for your business. The truck was imported from India. The price of the truck is $50,000. Other costs related to truck are as follows: insurance during transporatation $2,000, painting and lettering your company logo $500, one year road insurance $1,000, sales taxes and fees $2,500, oil and lubricants for the truck $500, import taxes $5,000. The truck's estimated useful life is 7 years and you expect that the salvage value of the truck will be $1,000. It will be depreciated using the double declining method. Your task: a. Using the double declining method, prepare a full depreciation schedule for the truck. b. Assume that on June 30, 2024, you sell this truck for $12,000. Prepare a journal entry for this sale. c. Assume on December 31, 2025 the truck is destroyed in an accident and have to be disposed with no salvage. Prepare a journal entry for the disposal