On January 1 of the current year, the records of Khouri Corporation showed the following regarding a truck: Equipment (estimated residual value, $9,900) $ 25,500 Accumulated depreciation (straight-line, three years) 11,700 On December 31 of the current year, the delivery truck was a total loss as the result of an accident.

Equipment(estimatedresidualvalue,$9,900)Accumulateddepreciation(straight-line,threeyears)$25,50011,700 On December 31 of the current year, the delivery truck was a total loss as the result of an accident. Required: 1. Based on the data given, compute the estimated useful life of the truck that was used for recording depreciation. 2. Prepare all journal entries with respect to the truck on December 31 of the current year, assuming there was no insurance coverage on the truck. 3. Assuming Khouri had casualty insurance on the truck and received $5,800 from the insurance company for the accident, determine whether there was a gain or loss for the disposal and what the associated amount was. Complete this question by entering your answers in the tabs below. Based on the data given, compute the estimated useful life of the truck that was used for recording depreciation. Complete this question by entering your answers in the tabs below. Prepare all journal entries with respect to the truck on December 31 of the current year, assuming there was no insurance coverage on the truck. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted. Complete this question by entering your answers in the tabs below. Assuming Khouri had casualty insurance on the truck and received $5,800 from the insurance company for the accident, determine whether there was a gain or loss for the disposal and what the associated amount was. Note: If there is no gain or loss, select "NA" and do not input an amount