On January 1,2012,a Company Buys a Truck for $42,000 Cash $$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$$

question 64

Essay

On January 1,2012,a company buys a truck for $42,000 cash.It has estimated residual value of $2,000,and an estimated life of 8 years,or 200,000 miles.If the company uses straight-line depreciation,please show the journal entry for the first year depreciation.
$$\begin{array} { | l | r | r | } \hline \quad\quad\quad&\quad&\quad \\\hline \\\hline\end{array}$$

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Definitions:

Matrix Analysis

A method used for making decisions or solving problems by organizing data into rows and columns for better analysis.

Three-Dimensional

Pertaining to having or appearing to have length, breadth, and depth, often used to describe objects or concepts that have a tangible or realistic quality.

Idea Box

A tool or system used to collect suggestions and ideas from employees or members of an organization for improvement or innovation.

Enlisting Troublemakers

A strategy of engaging individuals who may initially resist change or challenge norms, utilizing their perspectives or energy positively within organizational contexts.