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Pronghorn Company purchased a delivery truck for $26,000 on January 1, 2020. The truck has an expected salvage value of $1,280, and is expected to

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Pronghorn Company purchased a delivery truck for $26,000 on January 1, 2020. The truck has an expected salvage value of $1,280, and is expected to be driven 103,000 miles over its estimated useful life of 10 years. Actual miles driven were 12,700 in 2020 and 10, 200 in 2021. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, c.0.0.50.) Depreciation expense per mile Compute depreciation expense for 2020 and 2021 using (1) the straight-line method, (2) the units-of-activity method, and (3) the double-declining balance method. (Round depreciation cost per unit to 2 decimal places, .0.0.50 and depreciation rate to o decimal places, eg. 1596. Round final answers to decimal places, . 2.125) Depreciation Expense 2020 2021 (1) Straight-line method (2) Units-of-activity method (3) Declining-balance method m 2 scroll Dance CALCULATOR FULL SCREEN PRINTER VERSION Assume that Pronghom uses the straight-line method. Prepare the journal entry to record 2020 depreciation. (Cred account titles are automatically indented when amount is entered. Do not indent manually. If no entry required, select "No Entry for the account titles and enter for the amounts. Round answers to decin places, e.g. 2,125.) Account Titles and Explanation Debit Credit Assume that Pronghom uses the straight-line method. Show how the truck would be reported in the December 31, 2 balance sheet. (Round answers to o decimal places, e.g. 2,125.) PRONGHORN COMPANY Partial Balance Sheet

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