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Bill's Photos buys a truck on 4/1/2000 for the business. The costis 150,000 and they expect to use it for 6 years and expect a salvage value at that time of $6,000. Use straight line depreciation. PAY ATTENTION TO THE DATES 8. Describe the purchase of the truck with a journal entry: DATE Account Debit Credit 4/1/00 Cash $150,000 Truck $150,000 (to record purchase of truck) 1 Credit 9. Describe the first MONTHS depreciation with a journal entry: DATE Account 4/30/00 Depreciation expense 5 Accumulated depreciation 7 (to record one month depreciation Debit $2,000 5 $2,000 Create the T- accounts for the accounts in #8 and #9 and show the balance at 10 4/30/2000 79 AJP 30 31 32 GIVEN - nothing 150000 83 84 85 86