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Compary completed the following transactions and events involving its dellvery trucks, That 1 Jakary 1 Pald $22,015 cash plus $1,635 in sales tax for a
Compary completed the following transactions and events involving its dellvery trucks, That 1 Jakary 1 Pald $22,015 cash plus $1,635 in sales tax for a new delivery truck estimated to have a five-year life and a \$2,130 salvage value. Delivery truck costs are recorded in the Trucks account. becester 31 Recorded annuat straight-line depreciation on the truck. Whar 2 Decenber 31 the truck"s estimated useful life was changed from five to four years, and the estimated salvage value was increased to \$2,70e. Recorded annual straight-line depreciation on the truck. Weat 3 Decienber 31 Recorded annual straight-line depreciation on the truck. december 31 Sold the truck for $5,400 cash. Required: ha Calculate depreciation for Year 2. 1-b. Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. t-c. Prepare joumal entries to record these transactions and events. Camplete this question by entering your answers in the tabs below. Ciculate depreciation for year 2
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