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((Please help with part b, thanks! I am stuck..) Pharoah Company purchased a delivery truck for $44,000 on July 1,2025 . The truck has an
((Please help with part b, thanks! I am stuck..)
Pharoah Company purchased a delivery truck for $44,000 on July 1,2025 . The truck has an expected salvage value of $2,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2025 and 12,000 in 2026. Pharoah uses the straight-line method of depreciation. (a) Your answer is correct. Compute depreciation expense for 2025 and 2026. eTextbook and Media List of Accounts Attempts: 2 of 6 used (b) Prepare the journal entry to record 2025 depreciation. (List debit entry before credit entry. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)Step by Step Solution
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