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Slamdsunk Company purchased a truck on January 1, 2019, at a cash cost of $22.000. The estimated residual value was $1,000 and the estimated useful
Slamdsunk Company purchased a truck on January 1, 2019, at a cash cost of $22.000. The estimated residual value was $1,000 and the estimated useful life 4 years. The company uses straight-line depreciation computed monthly. On July 1, 2022, the company sold the truck for $3,200 cash. A. What was the depreciation expense amount per month? B. What was the amount of accumulated depreciation at July 1,2022 ? C. Give the required joumal entries on the date of disposal, July 1, 2022. (Assume no 2022 depreciation had yet been recorded)
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