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On January 1, 2021, Carson Corp purchases a tow truck for $120,000 to a fleet of tow trucks. They estimate a residual value of $10,000
On January 1, 2021, Carson Corp purchases a tow truck for $120,000 to a fleet of tow trucks. They estimate a residual value of $10,000 and expect of 10 years. They also estimate 200,000 miles of use. In 2021 they drive 28,000 miles. Requirement 1: Prepare the 2021 depreciation journal entry on December 31, 2021 AND value of the tow truck as of December 31, 2021 using straight-line deprec Requirement 2: Prepare the 2021 depreciation journal entry on December 31, 2021 AND value of the tow truck as of December 31, 2021 using double-declining ba Requirement 3: Prepare the 2021 depreciation journal entry on December 31, 2021 AND value of the tow truck as of December 31, 2021 using activity-based depn YOU NEED 3 TOTAL JOURNAL ENTRIES AND THE BOOK VALUE OF
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