Capped Distribution has a December 31, 2021 year end and uses the straight-line method to calculate depreciation on all property, plant, and equipment.

1. On April 1, 2021, purchased a delivery truck for $42,000. The truck has a useful life of 5 years and the company believes it will be able to sell the truck for $7,000 at the end of it's useful life.
2. On January 1, 2018, purchased a delivery van with a cost of $20,000. In 2018 when the van was purchased, it was determined to have a useful life of 8 years and a residual value of $4,000.

Required:

1. For each transaction, calculate the depreciation expense and record the journal entry on December 31, 2021.
2. For each transaction, calculate the accumulated depreciation as of December 31, 2021.