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On January 1, 2021. Carson Corp purchases a tow truck for $120,000 to add to their fleet of tow trucks. They estimate a residual value

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On January 1, 2021. Carson Corp purchases a tow truck for $120,000 to add to their fleet of tow trucks. They estimate a residual value of $10,000 and expect a useful life of 10 years. They also estimate 200,000 miles of use. In 2021 they drive the tow truck 28,000 miles Requirement 1: Prepare the 2021 depreciation journal entry on December 31, 2021 AND provide the book value of the tow truck as of December 31, 2021 using straight-line depreciation. Requirement 2: Prepare the 2021 depreciation journal entry on December 31, 2021 AND provide the book value of the tow truck as of December 31, 2021 using double-declining balance depreciation. Requirement 3: Prepare the 2021 depreciation journal entry on December 31, 2021 AND provide the book value of the tow truck as of December 31, 2021 using activity-based depreciation YOU NEED 3 TOTAL JOURNAL ENTRIES AND THE BOOK VALUE OF THE TRUCK AT THE END OF THE YEAR FOR ALL 3 METHODS

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