Year 1 Jan. 1 Paid $25,015 cash plus $1,485 in sales tax for a new delivery truck estimated to have a five-year life and a $2,000 salvage value. Delivery truck costs are recorded in the Trucks account. Dec. 31 Recorded annual straight-line depreciation on the truck. Year 2 Dec. 31 The truck's estimated useful life was changed from five to four years, and the estimated salvage value was increased to $2,550. Recorded annual straight-line depreciation on the truck. Year 3 Dec. 31 Recorded annual straight-line depreciation on the truck. Dec. 31 Sold the truck for $5,600 cash. Required: 1-a. Calculate depreciation for Year 2. 1-b. Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. 1-c. Prepare journal entries to record these transactions and events. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Calculate depreciation for Year 2. cost 26,500 4,000 2,000 Less accumulated depreciation (from Year 1) Book value Less revised salvage value Remaining cost to be depreciated Years of life remaining Total depreciation for Year 2 0 Year 1 Jan. 1 Paid $25,015 cash plus $1,485 in sales tax for a new delivery truck estimated to have a five-year life and a $2,000 salvage value. Delivery truck costs are recorded in the Trucks account. Dec. 31 Recorded annual straight-line depreciation on the truck. Year 2 Dec. 31 The truck's estimated useful life was changed from five to four years, and the estimated salvage value was increased to $2,550. Recorded annual straight-line depreciation on the truck. Year 3 Dec. 31 Recorded annual straight-line depreciation on the truck. Dec. 31 Sold the truck for $5,600 cash. Required: 1-a. Calculate depreciation for Year 2. 1-b. Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. 1-c. Prepare journal entries to record these transactions and events. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 1C Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. 0 Depreciation expense (for Year 1) Depreciation expense (for Year 2) Depreciation expense (for Year 3) Accumulated depreciation 12/31/Year 3 Book value truck at 12/31/Year 3 Total cost Accumulated depreciation Book value 12/31/Year 3 Year 3 Dec. 31 Recorded annual straight-line depreciation on the truck. Dec. 31 Sold the truck for $5,600 cash. Required: 1-a. Calculate depreciation for Year 2. 1-b. Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. 1-c. Prepare journal entries to record these transactions and events. Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 10 Prepare journal entries to record these transactions and events. View transaction list View journal entry worksheet No General Journal Debit Credit Date Jan 01, Year 1 1 Trucks 26,500 Cash 26,500 2 4,900 Dec 31, Year 1 Depreciation expense - Trucks Accumulated depreciation-Trucks 4,900 3 5,100 Dec 31, Year 2 Depreciation expense-Trucks Accumulated depreciationTrucks 4,900 4 4,000 Dec 31, Year 3 Depreciation expense Trucks Accumulated depreciation-Trucks 5 Dec 31, Year 3 Cash 5,600 Accumulated depreciation-Trucks Loss on disposal of trucks Trucks