$\backslash$table$[[$Pb$9\mathrm{.}4$B$,\backslash$table$[[$PROBLEM $9\mathrm{.}4$B Disposal of PPE Assets Si LO$9-5],[$Daring the current year, Blake Construction disposed of PPE assets in the following transactions.$],[$Jan$.6$ Equipment costing $$18,000$ was given to a scrap dealer at no charge. At the date of disposal, accumulated depreciation on the office equipment amounted to $$16,800.],[$Mar$,3$ Blake sold land and a building for $$000,000,$ recelving $$100,000$ cash and a $5-$year, $12$ percent note recelvable for the remaining balance. Blake's records showed the following amounts: Land, $$50,000$; Buildings, $$680,000$; Accumulated Depreciation: Building $($at the date of disposal$),$ $$250,000.],[$Jul$.10$ Blake traded in an old truck for a new one. The old truck had cost $$26,000,$ and its accumulated depreciation amounted to $$22,000.$ The list price of the new truck was $$37,000,$ but Blake received a $$12,000$ trade$-$in allowance for the old truck and paid $$25,000$ in cash. Blake includes trucks in its Vehicles account.$],[$Sept$.3$ Blake traded in its old computer system as part of the purchase of a new system. The old system had cost $$12,000,$ and its accumulated depreciation amounted to $$9,000.$ The new computer's list price was $$10,000.$ Blake accepted a trade$-$in allowance of $$400$ for the old computer system, paying $$1,000$ down in cash and issuing a iyear, $10$ percent note payable for the $$8\mathrm{.}600$ balance owed.$],[$Pagn $43],[$Instructions$],[$a$.$ Prepare journal entries to record each of the disponal transactions. Assume that depreciation expense on each asset has been recorded up to the date of disposal. Thus you noed not update the accumalated depreciation fagres stated in the problem.$],[$b$.$ Will the gains asd lonves recorded in part a affect the grons profit reported in Blake's income statement? Explain.$],[$e$.$ Expleis how the financial reporting of gains and lonses on PPE assets differs from the financial reporting of anrealized gains and losses on investments in securities divcussed in $($Shapter $7.]]]]$