Truck Estimated Residual Value Estimated Useful Life Depreciation at Beginning of Year Operated During Year No. Cost 1 240,000 miles $80,000 114,500 $12,000 13,740 2 3 36,000 miles 39,000 21,100 14,000 390,000 211,000 420,000 100,000 130,000 $22,900 $80,000 $26,000 4 15,600 50,400 a. Determine for each truck the depreciation rate per mile and the amount to be credited to the accumulated depreciation section of each subsidiary account for the miles operated during the current year. Keep in mind that the depreciation taken cannot reduce the book value of the truck below its residual value. Round the rate per mile to two decimal places. Enter all values as positive amounts, Credit to Rate per Mile Miles Accumulated Truck No. (in cents) Operated Depreciation 36,000 2 39,000 3 21,100 4 50,400 Total b. Journalize the entry to record depreciation for the year. Mar. 20. Replaced the transmission at a cost of $5,205. June 11. Paid $1,470 for installation of a hydraulic lift. Nov. 30. Paid $78 to change the oil and air filter. Prepare the journal entries for each expenditure. If an amount box does not require an entry, leave it blank. Mar. 20 June 11 Nov. 30