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Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January 1 Paid $ 2 0 , 5 1 5 cash

Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1January 1Paid $20,515 cash plus $1,485 in sales tax for a new delivery truck estimated to have a five-year life and a $2,150 salvage value. Delivery truck costs are recorded in the Trucks account.December 31Recorded annual straight-line depreciation on the truck.Year 2December 31The trucks 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 3December 31Recorded annual straight-line depreciation on the truck.December 31Sold the truck for $5,500 cash.Required:1-a. Calculate depreciation for Year 2. Calculate depreciation for Year 2.Total costLess accumulated depreciation (from Year 1)Book valueLess revised salvage valueRemaining cost to be depreciatedYears of life remainingTotal depreciation for Year 21-b. Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. 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 3Book value of truck at 12/31/Year 3Total costAccumulated depreciationBook value1-c. Prepare journal entries to record these transactions and events. Required 1-a,1-b,1-c.

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