Solution-What was the carrying amount of the van at the

What was the carrying amount of the van at the date of sale

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Question - On January 1, 2017, Hard Rock Brewery purchased a van for $41,000. Hard Rock expects the van to have a useful life of four years and a residual value of $3,000. The depreciation method used was? straight-line. On December 31, 2020, the van was sold for $19,000 cash.

Required -

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

2. Record the sale of the van on December 31, 2020.

Reference no: EM133057842

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What was the carrying amount of the van at the date of sale

Reference no: EM133057842

Reference no: EM133057842

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