Apex Trucking purchased a truck for $100,000 on January 1, 1996. The useful life of the truck was estimated to be either five years or 200,000 miles. Salvage value was estimated at $20,000. (The activity method of Over the actual life of the truck it logged the following miles: depreciation) Year 1 48,000 miles Year 2 35,000 miles Year 3 40,000 miles Year 4 25,000 miles Year 5 35,000 miles Year 6 10,000 miles At the end of the sixth year, the truck was sold for $12,000. REQUIRED: Prepare the journal entries to record depreciation over the life of the truck, and its sale, assum¬ ing these methods: 1. Activity method 2. Straight-line method