Do not do this question if you will copy-paste answers from Chegg otherwise, i will give a thumbs down.

I need it all complete with all depreciation methods.

On 4/1/20, Kipper Company incurred these expenditures in purchasing a truck: cash price $48,000, accident insurance (during use) $2,000, sales taxes $2,640,

motor vehicle license $300, and painting and lettering $1,350. Kipper expects to use the truck for five years (or 100,000 miles) and then dispose of it for $8,000.

Compute the depreciation expense for 2021 (second year) and the book value of the asset at 12/31/21 after adjustments, using each

of the four GAAP depreciation methods that we covered in class. Assume that Kipper drove 6,000 miles in 2020 and 21,000 miles in 2021.

On 1/2/24 Kipper has an opportunity to sell the truck for $25,000, and decides to do so. Assuming that Kipper has used straight-line depreciation,

what journal entry will Kipper make to record the disposal?