Question 6 (3 points) Dow Company Dow Company purchased a dump truck at the beginning of 2008 at a cost of $100,000. The truck had an estimated life of 5 years and an estimated residual value of $20,000. On January 1, 2010, the company made major repairs of $30,000 to the truck that extended the life 3 years. Thus, starting with 2010, the truck has a remaining life of 5 years and a new salvage value of $8,000. Dow uses the straight- line depreciation method. Refer to Dow Company. What amount should be recorded as depreciation expense each year starting in 2010? $16,000 $18,000 $13,600 $12,400 Question 8 (3 points) . Lighting Company sold an old machine on December 31, 2009, for $12,000 cash. The following data was available when the truck sold: Acquisition cost $100,000 Estimated residual value at acquisition 8,000 Accumulated depreciation at 12-31-2009 (after adjustment) 85,000 When this transaction is recorded, it should include a debit of $3,000 to the Loss on Disposal account. debit of $15,000 to the Truck account. credit of $7,000 to the Gain on Disposal account. credit of $15,000 to the Gain on Disposal account