Is it a quad entry?

City Taxi Service purchased a new auto to use as a taxi on January 1 Yeart, for $36,000. In addition, City paid sales tax and title fees of $1,200 for the vehicle. The taxi is expected to have a five year life and a salvage value of $4,000 Required a. Using the straight-line method, compute the depreciation expense for Year 1 and Year 2. b & c. Assume that the tax was sold on January 1 Year 3. for $22.000 Prepare the general Journal entries to record the Year depreciation and sale of the taxi in Year 3. Complete this question by entering your answers in the tabs below. Reg A Rog Band Assume that the taxi was sold on January 1, Year 3, for $22,000. Prepare the general journal entries to record the Year 1 depreciation and sale of the taxi in Year 3. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet