Units$-$of$-$Production Depreciation

Irons Delivery Inc. purchased a new delivery truck for $$42,000$ on January $1,2023.$ The truck is expected to have a $$2,000$ residual value at the end of its $5-$year useful

life. Irons uses the units$-$of$-$production method of depreciation. Irons expects the truck to run for $150,000$ miles. The actual miles driven in $2023$ and $2024$ were $41,000$

and $36,000,$ respectively.

Required:

Prepare the journal entry to record depreciation expense for $2023$ and $2024.$ If an amount box does not require an entry, leave it blank. Do not round intermediate

calculations. Round your answers to the nearest dollar.

$2023$ Dec. $31$

$2024$ Dec. $31$