State Department TransportState Department Transport

is a large trucking company.

State Department TransportState Department Transport

uses the units of production (UOP) method to depreciate its trucks. In

20152015,

State Department TransportState Department Transport

acquired a Mack truck costing

$ 380 comma 000$380,000

with a useful life of 10 years or

968 comma 750968,750

miles. Estimated residual value was

$ 70 comma 000$70,000.

The truck was driven

82 comma 00082,000

miles in

20152015;

102 comma 000102,000

miles in

20162016;

and

147 comma 000147,000

miles in

20172017.

After

45 comma 00045,000

miles in

20182018,

State Department TransportState Department Transport

traded in the Mack truck for a new Freightliner that cost

$ 460 comma 680$460,680.

State Department TransportState Department Transport

received a

$ 285 comma 680$285,680

trade-in allowance for the old truck and paid the difference in cash. Journalize the entry to record the purchase of the new truck. (Round interim calculations to the nearest cent and your final answer to the nearest dollar. Record debitsfirst, then credits. Exclude explanations from journal entries.)

Score: 0 of 2 pts