Yoshi Company completed the following transactions and events involving its delivery trucks.

Required

Prepare journal entries to record these transactions and events.

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Year 1 Jan. 1 Paid $20,515 cash plus $1,485 in sales tax for a new delivery truck estimated to have a five-year life and a $2,000 salvage value. Delivery truck costs are recorded in the Trucks account. Dec. 31 Year 2 Dec. 31 Recorded annual straight-line depreciation on the truck. The truck's estimated useful life was changed from five to four years, and the estimated salvage value was increased to $2,400. Recorded annual straight-line depreciation on the truck. Year 3 Dec. 31 31 Recorded annual straight-line depreciation on the truck. Sold the truck for $5,300 cash.