Problem 11-2 Update depreciation and record six cases of asset disposal (L.O. 1,2) Required E On January 2, 2015, Blake Company purchased a delivery truck for $157,500 cash. The truck has an estimated useful life of six years and an estimated salvage value of $13,500. The straight-line method of depreciation is being used. a. Prepare a schedule showing the computation of the book value of the truck on December 31, 2017. b. Assume the truck is to be disposed of on July 1, 2018. Prepare the journal entry to record depreciation for the six months ended June 30, 2018. c. Prepare the journal entries to record the disposal of the truck on July 1, 2018, under each of the following unrelated assumptions: 1. The truck was sold for $52,500 cash. 2. The truck was sold for $96,000 cash. 3. The truck was retired from service, and it is expected that $41,250 will be received from the sale of salvaged materials. 4. The truck and $120,000 cash were exchanged for office equipment that had a cash price of $210,000. The exchange has commercial substance. 5. The truck and $135,000 cash were exchanged for a new delivery truck that had a cash price of $225,000. The exchange has commercial substance. 6. The truck was completely destroyed in an accident. Cash of $51,000 is expected to be recovered from the insurance company. blem 11-3 Fagle Moving Company nurchased a new mouin