Question
If On July 1, 2014, MBA T bought a truck for $52,000 cash. It has estimated residual value of $4,000, and an estimated life of
If On July 1, 2014, MBA T bought a truck for $52,000 cash. It has estimated residual value of $4,000, and an estimated life of 4 years, or 400,000 kilometers, would it be a partial depreciation for 2014 and 2017.Refer to Exhibit A, prepare the journal entry to record the amortization expense in 2016 and 2017 and sales of the truck if MBA T uses the double-declining balance method to determine amortization and sold the truck on April 30th, 2017 for;
a.Sold the truck for $5,531 cash
b.Sold the truck for $10,000 cash
c.Sold the truck for $6,000 on account.
how would the depreciation calculation and journal entries lookjQuery22407700947638299198_1540667939280
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