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please explain answer On March 31, 20X2, Asay Company purcahsed a used truck with 30.000 miles on it for $30,000 cash. The truck is expected
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On March 31, 20X2, Asay Company purcahsed a used truck with 30.000 miles on it for $30,000 cash. The truck is expected to last another 120,000 miles. Asay Company drove the truck 12,000 miles in 20x2. Asay Company uses the units of production method to calculate depreciation. Which of the following is the correct adjusting entry at the end of 20%2 to record depreciation? DR Depreciation Expense $2,250 CR Accumulated Depreciation $2,250 NO ADJUSTING JOURNAL ENTRY REQUIRED DR Depreciation Expense $10,500 CR Accumulated Depreciation $10,500 DR Depreciation Expense $3,000 CR Accumulated Depreciation $3,000 DR Depreciation Expense $12,000 CR Accumulated Depreciation $12,000 DR Depreciation Expense $7,875 CR Accumulated Depreciation $7,875 Step by Step Solution
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