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Question(s) / Instruction(s):

A company acquired a truck for $79,000 on Jan 1st of 2009. It has a useful life of 5 years and a residual value of $9,000. The company uses the double declining balance method of depreciation. On July 1st 2011 the company sold it for $25,000.

Required: (a) show the journal entry for the sale.

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