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Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January 1 Paid $23,515 cash plus $1,485 in sales tax

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Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January 1 Paid $23,515 cash plus $1,485 in sales tax for a new delivery truck estinated to have a five-year life and a $2,150 salvage value. Delivery truck costs are recorded in the Trucks account. December 31 Becorded annual straight-line depreciation on the truck. Year 2 December 31 The truck's estimated useful life was changed from five to four years, and the estimated salvage value was increased to $2,700. Recorded annual straight-line depreciation on the truck. Year 3 December 31 Recorded annual straight-line depreciation on the truck. December 31 sold the truck for $5,400 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 IA Required 10 Required 1C Calculate depreciation for Year 2. Total cost 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 $ 25,000 4,703 20,297 0 Required A Required 18 > Required 1A Required 1B Required 1C Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. Depreciation expense (for Year 1) Depreciation expense (for Year 2) Depreciation expense (for Year 3) Accumulated depreciation 12/31/Year 3 0 Book value of truck at 12/31/Year 3 Total cost Accumulated depreciation Book value Required 1A Required 1B Required 1C Prepare journal entries to record these transactions and events. View transaction list Journal entry worksheet < 1 2 3 4 5 Record the total cost of the new delivery truck. Note: Enter debits before credits. Date January 01, Year 1 General Journal Debit Credit Record entry Clear entry View general journal >

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