The Parker Piano Company purchased a Delivery Truck on January 1, 2025 for $50,000 which included all costs to get the asset ready for use. The truck has an anticipated life of 100,000 miles or 4 years. The estimated residual value at the end of the assets service life is expected to be $2,000. For assets of this type, the company utilizes the straight-line depreciation method.

D) Suppose the company sells the van on December 31, 2027 for $18,000 cash. Provide the journal entry to record the sale. Date Account Name Debit Credit E) Assume the company chooses to use the units-of-production method. Based on the information below, complete the depreciation schedule. Year 2025 2026 2027 2028 Miles Driven 27,000 24,000 32,000 22,000 Period Ended Depreciation Expense Accumulated Depreciation End of Period Book Value December 31, 2025 December 31, 2026 December 31, 2027 December 31, 2028