Problem:1 A truck was purchased on January 1, 2018 for $120,000. It was estimated to have a useful life of 5 years, or 150,000 miles: and an estimated salvage value of $20,000. The truck was driven for 40,000 miles for 2018. 34.000 miles for 2019, 26,000 miles for 2020, 28.000 miles for 2021 and 22.000 miles for 2022 Required: A. Determine the amount of depreciation for each year using the Depreciation methods-1. Straight Line 2. Declining Balance 3. Units of Act B. what was the book value of the truck at the end 2020 for all three methods? C. What was the Accumulated Depreciation for all three methods at the end of 2021 D. What is the journal entry to record the depreciation under the Declining Balance method for 2019? Make the journal entry! Problem:2 The following transactions occurred for Star Company in 2018 Jan 1 . Borrowed $12.000 from Chase Bank on a 45 day, 9% note. 3. Sold merchandise for cash totaling $6.510, which included 5% sales tax 9. Provided services for customers who had made advance payments of $5.300 11 . Sold merchandise to Diaz Co. for $8.500 plus 7% sales tax. terms n/30 20. Paid NY State for sales tax collected in December 2017, $1.742 21 . Purchased Merchandise from Parisi Co and gave them an $10.000.60 day. 6% Note 31. Accrue the interest on the Chase Bank and Parisi notes. 31, Warranty costs will run 6% on the merchandise sold on Jan 11 Feb 15. Paid Chase Bank their note in full 20. Paid NY State for the sales taxes collected in January 2018 29. Accrue the interest on the Acme note Required: Record the above entries in general journal form. Star Company adjusts its books on a monthly basis. Problem:3 Kach Co. owned equipment that cost $30.200 and had accumulated depreciation of $18,800 Required: Make the journal entries to record each of the following transactions: A. On October 13, 2017 the equipment was sold for $9,000 cash. B. On October 13, 2017 the equipment was sold for $15,100 cash. C. On October 13, 2017 the equipment was disposed of for nothing. D. On October 13, 2017 the equipment was traded in for new equipment. The old equipment had a trade-in value of $10,000 and $16,000 was paid in cash E. On October 13, 2012 the equipment was traded for new equipment costing S32,000. A note was taken out for $10,000 and $7,500 cash was paid