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Bean Delivery Company purchased a new delivery truck for $42,000 on April 1, 2019. The truck is expected to have a service life of 5
Bean Delivery Company purchased a new delivery truck for $42,000 on April 1, 2019. The truck is expected to have a service life of 5 years or 180,000 miles and a residual value of $3,000. The truck was driven 8,000 miles in 2019 and 16,000 miles in 2020. Bean computes depreciation expense to the nearest whole month.
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