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Question 2 (5 marks) Donald Mac Ine. purchased a delivery truck on July 1,2020 . The cost of the truck is $90,000, the residual value

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Question 2 (5 marks) Donald Mac Ine. purchased a delivery truck on July 1,2020 . The cost of the truck is $90,000, the residual value is $5,000, the useful life is 4 years. The company's year end is December 31. Prepare a depreciation schedule that shows the annual depreciation expense on the truck for its 4year life using: b) diminishing balance depreciation method if the company uses double the straight rate method. 3) Assuming the delivery truck above was sold on December 31, 2023 for $10,000. Prepare the journal entries for the disposal using the information (from question 2) for (i) the straight-line and (ii) the diminishing balance at that date, (2 marks)

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