Homework Answers
a) Carrying amount = Cost - Accumulated depreciation = 41000-(41000-6000)/4*4 = 6000
b) Journal entry
| Date | account and explanation | Debit | Credit |
| Cash | 20000 | ||
| Accumulated depreciation-Van | 35000 | ||
| Gain on sale of Van | 14000 | ||
| Van | 41000 |
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