14 File ES View History Bookmarles People T Window Help Do Homework - abby philips math.com/student payerHomework aspx homeworkid-567750754&question dushedatasescid-6055120 centerwineyes ACCT-2301.15 (1) abby philips & 1 06/26/20 11:56 PM Homework: Assignment #7 - Chapter 7 Save Score: 0.2 of 1 pt 4 of 6 compte HW Score: 53.33%, 3.2 of 6 pts XE7-31A (similar to) Question Help Trusty Truck Company is a large trucking company. The company uses the units of production (UOP) method to depreciate its trucks. To follow are facts about one Mack truck in the company's feet the icon to view the facts.) Read the requirements Requirement 1. Determine Trusty gain or loss on the warsaction Begin by determining the formulereded to calculate the gain or loss and the complete the calculation to determine the amount (Use a minus signor parentheses for a los Round depreciation personas cent) Gain (L) on exchange int More Info i Requirements 1. Determine Trusty's gain or loss on the transaction 2. Prepare the journal entry to record the trade-in of the old ore. Use two decimal places for depreciation cost per me When this ruck was acquired in 2018, the tractoring had cost $370,000 and was expected to remain in service for 10 years or 1,000,000 miles. Its residual value was 500.000. During 2018. the truck was driven 75.000 miles during 2019, 160,000 and during 2020, 180,000 miles Alter the truck was driven 35,000 miles in 2001, the company traded in the Mack truck for Freier truck with a market value of $250.000. In adon to the trade in of the Mack truck. Truly Truck Company paid cash of 28,000 for the Freightliner God Print Done Print Done 2 urt remaining Clear Al Check Answer up ze SO S %