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Please help me solve this with explanations and I will give a thumbs up. Thank you! Required: 1-a. Calculate depreciation for Year 2. 1-b. Calculate

Please help me solve this with explanations and I will give a thumbs up. Thank you!

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed Required: 1-a. Calculate depreciation for Year 2. 1-b. Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. 1-c. Prepare journal entries to record these transactions and events. Complete this question by entering your answers in the tabs below. Calculate depreciation for Year 2. Required: 1-a. Calculate depreciation for Year 2. 1-b. Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. 1-c. Prepare journal entries to record these transactions and events. Complete this question by entering your answers in the tabs below. Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. Prepare journal entries to record these transactions and events. 1 Record the total cost of the new delivery truck. 2 Record the year-end adjusting entry for the depreciation expense of the delivery truck. 3 Record the year-end adjusting entry for the depreciation expense of the delivery truck. 4 Record the year-end adjusting entry for the depreciation expense of the delivery truck. 5 Record the sale of the delivery truck for $5,400 cash. Note : = journal entry has been entered Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January 1 Paid $23,515 cash plus $1,935 in sales tax for a new delivery truck estimated to have a five-year life and a $2,000 salvage value. Delivery truck costs are recorded in the Trucks account. December 31 Recorded annual straight-line depreciation on the truck. Year 2 December 31 The truck's estimated useful life was changed from five to four years, and the estimated salvage value was increased to $2,550. Recorded annual straight-line depreciation on the truck. Year 3 December 31 Recorded annual straight-line depreciation on the truck. December 31 sold the truck for $5,400 cash. Required: 1-a. Calculate depreciation for Year 2. 1-b. Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. 1-c. Prepare journal entries to record these transactions and events. Complete this question by entering your answers in the tabs below. Calculate depreciation for Year 2

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