. Coyote Manufacturing bought a delivery truck for $60,000 on April 1, 2017. The registration fee for the truck was $4,000. Coyote estimated that the useful life would be four years or 200,000 miles and the residual value at the end of the useful life be $8,000. The mileage to be added to this truck during its useful life are

2017=40,000 2018=50,000 2019=52,000 2020=48,000 2021=10,000

Instructions: 1. Prepare journal entries for the purchase of the truck on April 1. 2017.

2. Compute depreciation expenses on the truck for the years ending on December 31 of 2017 and 2018 using the following methods; 1) Straight-line method, 2) Activity-based method, 3) Sum-of-the-years'-digit, 4) Double declining method.

3. Coyote sold this truck for $30,000 on January 1, 2019 - Prepare any necessary journal entries for this sale using 1) the sum-of-years-digit method. 2) the straight-line method.