Depreciation by Units-of-activity Method Prior to adjustment at the end of the year, the balance in Trucks is $426,700 and the balance in Accumulated DepreciationTrucks is $132,940. Details of the subsidiary ledger are as follows: Truck No. Cost Estimated Residual Value Estimated Useful Life Accumulated Depreciation at Beginning of Year Miles Operated During Year 1 $77,000 $11,550 200,000 miles 30,000 miles 2 117,200 14,064 370,000 $23,440 37,000 3 105,000 14,700 202,000 84,000 20,200 4 127,500 15,300 240,000 25,500 28,800 Question Content Area a. Determine for each truck the depreciation rate per mile and the amount to be credited to the accumulated depreciation section of each subsidiary account for the miles operated during the current year. Keep in mind that the depreciation taken cannot reduce the book value of the truck below its residual value. Round the rate per mile to two decimal places. Truck No. Rate per Mile (in cents) Miles Operated Credit to Accumulated Depreciation 1 $fill in the blank 6bd817074feefec_1 30,000 $fill in the blank 6bd817074feefec_2 2 fill in the blank 6bd817074feefec_3 37,000 fill in the blank 6bd817074feefec_4 3 fill in the blank 6bd817074feefec_5 20,200 fill in the blank 6bd817074feefec_6 4 fill in the blank 6bd817074feefec_7 28,800 fill in the blank 6bd817074feefec_8 Total $fill in the blank 6bd817074feefec_9 Feedback Area Feedback Asset minus residual value equals depreciable cost. Units-of-production allocates the cost of the asset equally over the units produced. The depreciation rate stays constant, no matter how many miles are driven each period. Keep in mind that the depreciation taken cannot reduce the book value of the truck below its residual value. Question Content Area b. Journalize the entry on December 31 to record depreciation for the year. If an amount box does not require an entry, leave it blank. blank - Select - - Select - - Select - - Select - Feedback Area Feedback Remember that the company journalizes the depreciation of the trucks as one asset. Feedback Area Feedback Partially correct Check My Work