Crane Company purchased a delivery truck for $32,000 on July 1, 2022. The truck has an expected salvage value of $6,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2022 and 12,000 in 2023. Crane uses the straight-line method of depreciation. (a) Your answer is correct. Compute depreciation expense for 2022 and 2023. (b) Depreciation Expense 2022 2023 Straight-line method 1625 eTextbook and Media List of Accounts Your answer is correct. 3250 Attempts: 1 of 3 used Prepare the journal entry to record 2022 depreciation. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Depreciation Expense Accumulated Depreciation-Equipment Debit 1,625 Credit 1625 Question 6 of 10 < > View Policies Current Attempt in Progress These are selected 2022 transactions for Ayayai Corporation: -/10 : Jan. 1 Purchased a copyright for $147,000. The copyright has a useful life of 6 years and a remaining legal life of 30 years. Mar. 1 Sept. 1 Purchased a patent with an estimated useful life of 4 years and a legal life of 20 years for $90,000. Purchased a small company and recorded goodwill of $177,000. Its useful life is indefinite. Prepare all adjusting entries at December 31 to record amortization required by the events. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 Dec. 31 Dec. 31 (To record amortization of Copyrights) (To record amortization of Patents) (To record amortization of Goodwill) (c) Your answer is correct. Prepare the journal entry to record 2023 depreciation. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Depreciation Expense (d) Accumulated Depreciation-Equipment eTextbook and Media List of Accounts Debit 3250 Show how the truck would be reported in the December 31, 2023, balance sheet. CRANE COMPANY Partial Balance Sheet to Credit 3250 Attempts: 2 of 3 used