Dec. 31 Recorded annual straight-line depreciation on the loader. Dec. 31. Year 2: Dr. Deo Expense-Equip.. $43,590 Required Prepare journal entries to record these transactions and events. Yoshi Company completed the following transactions and events involving its delivery trucks. Problem 10-5A Computing and revising depreciation; selling plan assets C2 P1 P2 Year 1 Jan. 1 Paid $20,515 cash plus $1,485 in sales tax for a new delivery truck estimated to have a five-year life and a $2,000 salvage value. Delivery truck costs are recorded in the Trucks account. Dec. 31 Recorded annual straight-line depreciation on the truck. Year 2 Dec 31 The truck's estimated useful life was changed from five to four years, and the estimated salvage value was increased to $2,400. Recorded annual straight-line depreciation on the truck. Year 3 Dec. 31 Recorded annual straight-line depreciation on the truck. 31 Sold the truck for $5,300 cash. Check Dec. 31. Year 2: Dr. Depr. Expense ---Truck $5,200 Dec. 31. Year 3. Dr. Loss Disposal of Trucks, $2,30 Required Prepare journal entries to record these transactions and events. Onslow Co. purchased a used machine for $178,000 cash on January 2. On January 3, Onslow paid $2.840 to wire electricity to the machine and an additional $1,160 to secure it in place. The machine will be used for six years and have a $14,000 salvage value. Straight-line depreciation is used. On December 31, at the end of its fifth year in operations, it is disposed of. Problem 10-6A Disposal of plant assets C1 P1 P2 Required 1. Prepare journal entries to record the machine's purchase and the costs to ready it for use. Cash is paid for all costs incurred. 2. Prepare journal entries to record depreciation of the machine at December 31 of (a) its first year of operations and (b) the year of its disposal. Check (26) Dept Exp $28.000