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Sandhill Company purchased a delivery truck for $36,000 on July 1,2022. The truck has an expected salvage value of $10,000, and is expected to be

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Sandhill Company purchased a delivery truck for $36,000 on July 1,2022. The truck has an expected salvage value of $10,000, and is expected to be driven 100,000 miles over its estimated usefut life of 8 years. Actual miles driven were 15,000 in 2022 and 12,000 in 2023. Sandhill uses the straight-line method of depreciation. Show how the truck would be reported in the December 31, 2023, balance sheet

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