City Taxi Service purchased a new auto to use as a taxi on January 1 Year 1. for $25,600. In addition, City paid sales tax and title fees of $1,460 for the vehicle. The taxi is expected to have a five-year life and a salvage value of $5,590. Required a. Using the straight-line method, compute the depreciation expense for Year and Year 2 b&c. Assume that the taxi was sold on January 1 Year 3, for $21243. Prepare the general journal entries to record the Year 1 depreciation and sale of the taxi in Year 2 Complete this question by entering your answers in the tabs below. fo Rega Re Band Using the straight-line method, compute the depreciation expense for Year 1 and Year 2. (Round your answers to the nearest whole dollar amount) 1 Year 2 Ree Bandc> 10000OOLUL Va WCBOOLL W ended detaine Saved City Tax Service purchased a new auto to use as a tax on January 1 Year 1 for $25,600. In addition City paid sales tax and the fees of 51.450 for the vehicle. The tax is expected to have a five year ife and a salvage value of $5,590 Required 6. Using the straight-line method, compute the depreciation expense for Year 1 and Year 2 b&c. Assume that the taxi was sold on January 1 Year 3. for $21.243. Prepare the general journal entries to record the Year 1 depreciation and sale of the taxi in Year 3. Complete this question by entering your answers in the tabs below. Reg A Reg B and C Assume that the taxi was sold on January 1, Year 3 for $21,243. Prepare the general journal entries to record the Year 1 depreciation and sale of the taxi in Year 3. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record depreciation expense Note: Enter des before credits 00000000 JAWOROCCO y ering your answers in the tabs below e A Req B and C sume that the taxi was sold on January 1, Year 3, for $21,243. Prepare the general lournal entries to preciation and sale of the taxi in Year 3. (If no entry is required for a transaction/event, select "No jou st account field.) View transaction list Journal entry worksheet Record entry for sale of taxd and gain on sale. Note: Enter debits before credits General Journal Debit Credit Record entry Clear entry View general Journal ( Bee