On January 1, 1996, Wood Company purchased a truck for \(\$ 43,200\) cash. The truck has an estimated useful life of six years and an expected salvage value of \(\$ 5,400\). Depreciation on the truck was computed using the straight-line method.

a. Prepare a schedule showing the computation of the book value of the truck on December 31, 1998.

b. Prepare the journal entry to record depreciation for the six months ended June 30, 1999

c. Prepare journal entries to record the disposal of the truck on June 30, 1999, under each of the following unrelated assumptions:

(1) The truck was sold for \(\$ 3,600\) cash.

(2) The truck was sold for \(\$ 25,200\) cash.

(3) The truck was scrapped. Used parts valued at \(\$ 6,660\) were salvaged.

(4) The truck (which has a fair market value of \(\$ 10,800\) ) and \(\$ 32,400\) of cash were exchanged for a used back hoe that did not have a known market value.
(5) The truck and \(\$ 29,700\) cash were exchanged for another truck that had a cash price of \(\$ 51,300\).
(6) The truck was stolen July 1, and insurance proceeds of \(\$ 7,560\) were expected.