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Prior to adjustment at the end of the year, the balance in Trucks is $ 4 0 7 , 0 0 0 and the balance

Prior to adjustment at the end of the year, the balance in Trucks is $407,000 and the balance in Accumulated DepreciationTrucks is $120,300. Details of the subsidiary ledger are as follows:
Truck
No. Cost Estimated
Residual
Value Estimated
Useful
Life
Accumulated
Depreciation
at Beginning
of Year Miles
Operated
During
Year
1 $84,500 $12,675220,000 miles 33,000 miles
2114,50013,740300,000 $22,90030,000
393,00013,020204,00074,40020,400
4115,00013,800320,00023,00038,400
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a. Determine for each truck the depreciation rate per mile and the amount to be credited to the accumulated depreciation section of each subsidiary account for the miles operated during the current year. Keep in mind that the depreciation taken cannot reduce the book value of the truck below its residual value. Round the rate per mile to two decimal places.a. Determine for each truck the depreciation rate per mile and the amount to be credited to the accumulated depreciation section of each subsidiary account for the
miles operated during the current year. Keep in mind that the depreciation taken cannot reduce the book value of the truck below its residual value. Round the rate per
mile to two decimal places.
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how many miles are driven each period. Keep in mind that the depreciation taken cannot reduce the book value of the truck below its residual value.
b. Journalize the entry on December 31 to record depreciation for the year. If an amount box does not require an entry, leave it blank.
Accumulated Depreciation-Trucks x
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