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please explain how to find the depreciation expense as well please. A delivery truck was acquired on January 1, 2020, at a cost of $44,200.

please explain how to find the depreciation expense as well please. image text in transcribed
A delivery truck was acquired on January 1, 2020, at a cost of $44,200. The truck was originally estimated to have a salvage value of $17.200 and an estimated life of 5 years, Depreciation has been recorded through December 31, 2021, using the straight-line method. On January 1, 2022, the truck's engine was rebuilt at a cost of $5,400 the estimated salvage value was revised to $14,600 and the useful life was revised to a total of 7 years, Prepare the journal entry to record depreciation expense for 2022. (Credit account titlus care automatically indented when the amount is entered. Do not indent manually.) Depreciation expense for 2022 $ Adjusting journal entry at 12/31/22 Debit Credit Date Account Titles and explanation Dec. 31 Depreciation Esperse Accumulated Depreciation eTextbook and Media 2

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