Express Co. has delivery equipment that cost \(\$ 48,000\) and that has been depreciated \(\$ 20,000\). Record the disposal under the following assumptions:

(a) It was scrapped as having no value.

(b) It was sold for \(\$ 31,000\).

(c) It was sold for \(\$ 18,000\).

(d) It was exchanged for similar delivery equipment. The old delivery equipment has a Journalize a series of fair market value of \(\$ 12,000\) and \(\$ 32,000\) was paid. transactions related to \(\square\) disposals of plant assets. (SO 6 )


(e) It was exchanged for similar delivery equipment. The old delivery equipment has a fair market value of \(\$ 35,000\) and \(\$ 9,000\) was paid.