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6) repeating the question again because the other guy did incorrectly and created a confusion. Please help me and write only the correct answers with
6) repeating the question again because the other guy did incorrectly and created a confusion. Please help me and write only the correct answers with entries. This is my final chance
Transactions for Fixed Assets, Including Sale Year 1 Jan. 4 Purchased a used delivery truck for $15,360, paying cash. Nov. 2 Paid garage $190 for miscellaneous repairs to the truck. Dec. 31 Recorded depreciation on the truck for the year. The estimated useful life of the truck is 4 years, with a residual value of $3,200 for the truck. Year 2 Jan. 6 Purchased a new truck for $9,000, paying cash. Apr. 1 Sold the used truck purchased on January 4 of Year 1 for $6,270. (Record depreciation to date in Year 2 for the truck.) June 11 Paid garage $250 for miscellaneous repairs to the truck. Dec. 31 Record depreciation for the new truck. It has an estimated residual value of $1,600 and an estimated life of 5 years. Year 3 July 1 Purchased a new truck for $78,000, paying cash. Oct. 2 Sold the truck purchased January 6, Year 2, for $3,480. (Record depreciation to date for Year 3 for the truck.) Dec. 31 Recorded depreciation on the remaining truck purchased on July 1 . It has an estimated residual value of $14,000 and an estimated useful life of eight yearsStep by Step Solution
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