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 66

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.
-At the end of 2012,the truck had driven 30,000 miles.If the company uses units-of-production 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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