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This is all one question QUESTION 4-Change in useful life On July 1, 2015, Sandu Trucking bought a truck for $42,000 cash. It has estimated

image text in transcribedThis is all one question
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QUESTION 4-Change in useful life On July 1, 2015, Sandu Trucking bought a truck for $42,000 cash. It has estimated residual value of $6,000, and an estimated life of 4 years, or 300,000 kilometres. The truck drove 80,000 kilometres in 2015, 90,000 kilometres in 2016, 100,000 kilometres in 2017, and 50,000 kilometres in 2018. Sandu Trucking has a December 31st year end. Other information: straight-line amortization January 2, 2017 a new canopy was installed onto the truck at a cost of $2,500 the useful life was changed from four years to six years the estimated residual value was changed to $4,000 1. Prepare the journal entry to record the expenditure on the canopy for cash Date Account /Explanation Debit Credit

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