Straight Line Depreciation Irons Delivery Inc purchased a new delivery truck for $42,000 on January 1, 2023 The truck is expected to have a $1,990 residual value at the end of its 5 year useful life Irons uses the straight line method of depreciation Required Prepare the journal entry to record depreciation expense for 2023 and 2024 If an amount box does not require an entry, leave it blank 2023 Dec 31 Accounts PayableAccumulated DepreciationCashDelivery TruckDepreciation Expense Select Select Accounts PayableAccumulated DepreciationCashDelivery TruckDepreciation Expense Select Select 2024 Dec 31 Accounts PayableAccumulated DepreciationCashDelivery TruckDepreciation Expense Select Select Accounts PayableAccumulated DepreciationCashDelivery TruckDepreciation Expense Select Select

Question

Straight Line Depreciation Irons Delivery Inc  purchased a new delivery truck for $42,000 on January 1, 2023  The truck is expected to have a $1,990 residual value at the end of its 5 year useful life  Irons uses the straight line method of depreciation  Required  Prepare the journal entry to record depreciation expense for 2023 and 2024  If an amount box does not require an entry, leave it blank  2023 Dec  31 Accounts PayableAccumulated DepreciationCashDelivery TruckDepreciation Expense   Select     Select   Accounts PayableAccumulated DepreciationCashDelivery TruckDepreciation Expense   Select     Select   2024 Dec  31 Accounts PayableAccumulated DepreciationCashDelivery TruckDepreciation Expense   Select     Select   Accounts PayableAccumulated DepreciationCashDelivery TruckDepreciation Expense   Select     Select

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2023 Dec. 31	Accounts PayableAccumulated DepreciationCashDelivery TruckDepreciation Expense	- Select -	- Select -
	Accounts PayableAccumulated DepreciationCashDelivery TruckDepreciation Expense	- Select -	- Select -
2024 Dec. 31	Accounts PayableAccumulated DepreciationCashDelivery TruckDepreciation Expense	- Select -	- Select -
	Accounts PayableAccumulated DepreciationCashDelivery TruckDepreciation Expense	- Select -	- Select -

Question

Straight-Line Depreciation Irons Delivery Inc. purchased a new delivery truck for $42,000 on January 1, 2023. The truck is expected to have a $1,990 residual

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