Truccompany The company the units of production (DOP) method to deprecies tricks To forew Me fac Motone Mack truck in the company's ww The Requirements on the action tion to determine the owner for food de protect Canon then complete the calculation to determine the amount (Use a minus Gain Lace on exchance .X - Requirements. 1. Determine Safety's gain or loss on the transaction 2. Prepare the journal entry to record the trade-in of the old truck for the new one. Use two decimal places for depreciation cost per mile Print Done More Info - When this truck was acquired in 2018, the tractor-trailer rig had cost $440,000 and was expected to remain in service for 10 years or 1,000,000 miles. Its estimated residual value was $80,000. During 2018, the truck was driven 81,000 miles, during 2019, 180,000 miles and during 2020, 185,000 miles. After the truck was driven 42,000 miles in 2021, the company traded in the Mack truck for a Freightliner truck with fair market value of $230,000 In addition to the trade-in of the Mack truck, Safety Truck Company paid cash of $21,000 for the Freightliner truck Print Done