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Problem 8-5A (Algo) Computing and revising depreciation; selling plant assets LO C2, P1, P2 Yoshi Company completed the following transactions and events involving its delivery trucks Year 1 Jan. 1 Paid $22,015 cash plus $1,785 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 $2,700. Recorded annual straight-line depreciation on the truck. Year 3 Dec. 31 Recorded annual straight line depreciation on the truck Dec. 31 Sold the truck for $5,400 cash. Required: 1-0. Calculate depreciation for Year 2 1-5. Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. 1-c. Prepare Journal entries to record these transactions and events. Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 10 Calculate depreciation for Year 2. $ 4,360 otal cost ess accumulated depreciation (from Year 1) ook value Less revised salvage value Remaining cost to be depreciated Fears of life remaining Total depreciation for Year 2 0 IM ID Required to Prepare journal entries to record these transactions and events. View transaction list View journal entry worksheet General Journal Debit Credit No 1 Date Jan 01, Year 1 Trucks 23,800 Cash 23,800 2 4360 Dec 31 Year 1 Depreciation expense --Trucks Accumulated depreciation-Trucks 4,360 3 5,580 Dec 31 Year 2 Depreciation expense-Trucks Accumulated depreciation-Trucks 5,580 4 5,580 Dec 31, Year 3 Depreciation expense-Trucks Accumulated depreciation-Trucks 5.580 5 Dec 31, Year 3 Cash Accumulated depreciation - Trucks Loss on disposal of trucks Trucks 5,400 15,520 2,780 23 800