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Sunland Company purchased a delivery truck for $44,000 on July 1, 2022. The truck has an expected salvage value of $6,000, and is expected to
Sunland Company purchased a delivery truck for $44,000 on July 1, 2022. The truck has an expected salvage value of $6,000, and is expected to be driven 100,000 miles aver its estimated useful life af 8 years. Actual miles driven were 15,000 in 2022 and 12,000 in 2023. Sunland uses the straight-line method af depreciation. Compute depreciation expense for 2022 and 2023. Depreciation Expense 2022 2023 Straight-line methods Prepare the journal entry to record 2022 depreciation. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and Explanation Debit Credit Prepare the journal entry to record 2023 depreciation. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts) Account Titles and Explanation Debit Credit Show how the truck would be reported in the December 31, 2023, balance sheet. SUNLAND COMPANY Partial Balance Sheet Click if you would like to show Work for this question: Osen Show Work
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