, I Question Help * E9A-29 (similar to) Covenant Trucking Corporation uses the units-of-production depreciation method because units-of-production best measures wear and tear on the trucks. Consider these facts about one Mack truck in the company's fleet (Click on the icon to view the facts) Read the requirements fox denreciation exnansa in 2018 Record dobuits first then credis Select the Requirement 1.Record the iournal entry explanation on t More Info edit Date Mar. 15Tru ACC When acquired in 2015, the rig cost $350,000 and was expected to remain in service for 10 years or 1,000,000 miles. Estimated residual value was $110,000. The truck was driven 79,000 miles in 2015, 119,000 miles in 2016, and 159,000 Cas miles in 2017. After 46,000 miles, on March 15, 2018, the company traded in the 22,000 Mack truck for a less expensive Freightliner. Covenant also paid cash of $22,000 Fair market value of the Mack truck was equal to its net book value on the date of the trade Print Done