On April 1, 2018 los Pollos Hermanos Purchased a disc livery truck for 65,000 to be used it's normal operations to make deliveries to customers

On April 1, 2018, Los Pollos Hermanos purchased a delivery truck for $65,000 to be used in its normal operations to make deliveries to customers. The delivery truck has an estimated useful life of 10 years and an estimated residual value of $6,000. Record the purchase of the delivery truck. Account Description Date Debit Amount Credit Amount 4/1/18 On April 1, 2018, Los Pollos Hermanos purchased a delivery truck for $65,000 to be used in its normal operations to make deliveries to customers. The delivery truck has an estimated useful life of 10 years and an estimated residual value of $6,000. Record the depreciation expense for the year ended 2018, remembering the asset has only been in service for part of the year, and assuming the company uses the straight-line method of recording depreciation expense. Date Credit Amount Account Description Debit Amount 5900 Depreciation Expen 12/31/18 5900 Accumulated Depre On April 1, 2018, Los Pollos Hermanos purchased a delivery truck for $65,000 to be used in its normal operations to make deliveries to customers. The delivery truck has an estimated useful life of 10 years and an estimated residual value of $6,000. Record the depreciation expense for the year ended 2019. (Straight-Line Method) Date Credit Amount Account Description Debit Amount 12/31/19 On April 1, 2018, Los Pollos Hermanos purchased a delivery truck for $65,000 to be used in its normal operations to make deliveries to customers. The delivery truck has an estimated useful life of 10 years and an estimated residual value of $6,000. Record depreciation expense for 2018, remembering the asset has only been in service for part of the year, and assuming the company uses the double-declining-balance method of calculating depreciation expense. Account Date Description Debit Amount Credit Amount On April 1, 2018, Los Pollos Hermanos purchased a delivery truck for $65,000 to be used in its normal operations to make deliveries to customers. The delivery truck has an estimated useful life of 10 years and an estimated residual value of $6,000. Record the depreciation expense for the year ended 2019. (Double-Declining Balance Method). Account Description Date Debit Amount Credit Amount 12/31/19