Cullumber Company purchased a delivery truck for $32,000 on July 1, 2022. The truck has an expected salvage value of $8,000, 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. Cullumber uses the straight-line method of depreciation - Your answer is partially correct. Compute depreciation expense for 2022 and 2023. Depreciation Expense 2022 2023 1500 Straight-line methods eTextbook and Media On July 1, 2019, Sunland Company purchased new equipment for $80,000. Its estimated useful life was 8 years with a $20,000 salvage value. On January 1, 2022, before making its depreciation entry for 2022, the company estimated the remaining useful life to be 10 years beyond December 31, 2022. The new salvage value is estimated to be $5,000. - Your answer is partially correct. Prepare the journal entry to record depreciation on December 31, 2019. (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 for the amounts.) Account Titles and Explanation Debit Credit Depreciation Expense 2552 Accumulated Depreciation Colment