Canyon Truck Company is a large trucking company. The company uses the units of production (UOP) method to depreciate Es trucks. To follow are facts about one Mack truck in the company's feet Click the icon to view the facts) Read the comes Requirement 1. Determine Canyon's gain or loss on the transaction Begin by determining the formula reeded to calculate the gain or loss and then complete the calculation to determine the amount (Use a minus sign of parentheses for a fou Round depreciation per unit to the nearest cert) Gan .) on exchange X Requirements. 1. Determine Canyon's gain or loss on the transaction. 2. Prepare the journal entry to record the trade-in of the old truck for the new one. Use two decimal places for depreciation cost per mile. Print Done Canyon Truck Company is a large trucking company. The company uses the units of production (UOP) method to depreciate Es trucks. To follow are facts about one Mack truck in the company's feet Click the icon to view the facts) Read the comes Requirement 1. Determine Canyon's gain or loss on the transaction Begin by determining the formula reeded to calculate the gain or loss and then complete the calculation to determine the amount (Use a minus sign of parentheses for a fou Round depreciation per unit to the nearest cert) Gan .) on exchange X Requirements. 1. Determine Canyon's gain or loss on the transaction. 2. Prepare the journal entry to record the trade-in of the old truck for the new one. Use two decimal places for depreciation cost per mile. Print Done