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elegant transfort has a delivery van that was purchased on february 1.2019, for $90,000. the...

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Accounting

elegant transfort has a delivery van that was purchased on february 1.2019, for $90,000. the van had been depreciated on a straight-line basis with an estimated residual value of $10,000 and an edtimated useful life of six years. elegant transfort has a december 31 year end. assume each of life. following four independent situations: 1 on february1,2024, elegant transport retires the van. 2 on june1,2023 elegant transport sells the van for 12,000 cash. 3 on september 1,2023 elegant transport sells the van for 12,000 cash. 4 on october 1,2023 elegant transport exchanges the old van. plus $55000 cash, for a new van. the old van has a fair value of $12,000. the new van has a list price of $65,000, but the dealer gives elegant transport a15,000 trade-in allowance on the old van.. prepare the journal entry to record each of these situation

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