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What was the carrying amount of the van

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Reference no: EM131582598

Question - Record a sale in journal entry - The depreciation method used wasstraight-line On January 1, 2011, Pizza Notra purchased a van for $45,000. Red Rock expects the van to have a useful life of 5 years and a residual value of $5,500.

The depreciation method used was straight-line. On December 31,2014, the van was sold for $15,000 cash.

1. What was the carrying amount of the van at the date of sale?

2. Record the sale of the van on December 31, 2014, in journal entry.

Reference no: EM131582598

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