On July I, onde $5,000. On July 15, Renee received and recorded a $1,400 invoice for a ale was $5,000. ans was destroyed in an accident. On that date, the van's carrying Briet Exercise 11-34 value was arlier in May and another S1,000 invoice for various repairs done at t Gain or the same time. In August, Renee re- cived $7,000 from its insurance policy on the van; Renee plans to use those funds to replace the van,Compu Loss on Disposal LO8 amount Renee reports as a gain or loss on disposal of the van in its income statement