Depreciation and Disposal The Moss Piano Company purchased a Delivery Truck on January 1, 2025 for $50,000 cash which included all costs to get the asset ready for use. The truck has an anticipated life of 100,000 miles or 4 years. The estimated residual value at the end of the assets service life is expected to be $2,000. For assets of this type, the company utilizes the straight-line depreciation method. A) Record the purchase of the asset. SE CF Account DR - 12,000 12,000 -12,000 Truck 50,000 cash 50,000 NI CR End B) Complete the depreciation table below. Period Ended Depreciation Expense December 31, 2025 12,000 December 31, 2026 12,000 December 31, 2027 12,000 December 31, 2028 12,000 Accumulated Depreciation 12,000 24,000 Period Book Value 38,000 26,000 36,000 14,000 48,000 2,0001 C) Record the entry for December 31, 2025 to record the depreciation for the year. SE NI CF Account DR CR D) Suppose the company sells the van on December 31, 2027 for $18,000 cash. Provide the journal entry to record the sale. SE NI CF Account DR CR E) Assume the company chooses to use the units-of-production method. Based on the information below, complete the depreciation schedule. Year 2025 2026 2027 2028 Miles Driven 27,000 24,000 32,000 22,000 Depreciation Expense Accumulated Depreciation End of Period Book Value Period Ended December 31, 2025 December 31, 2026 December 31, 2027 December 31, 2028