On July 1, 2013, Farm Fresh Industries purchased a specialized delivery truck for $144,200. At the time, Farm Fresh estimated the truck to have a useful life of eight years and a residual value of $29,000. On March 1, 2018, the truck was sold for $73,000. Farm Fresh uses the straight-line depreciation method for all of its plant and equipment. Partial-year depreciation is calculated based on the number of months the asset is in service. Required: 1. Prepare the journal entry to update depreciation in 2018 2. Prepare the journal entry to record the sale of the truck. 3. Assuming that the truck was sold for $90,000, prepare the journal entry to record the sale Complete this question by entering your answers in the tabs below Req 1 and 2 Req 3 Prepare the journal entries to update depreciation in 2018 and record the sale of the truck. (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 2 Prex 10f 1 Next >