Exercise 9-07 a1-a2, b1-b2 (Part Level Submission) Pharoah Company purchased a delivery truck for $32,400...
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Exercise 9-07 a1-a2, b1-b2 (Part Level Submission) Pharoah Company purchased a delivery truck for $32,400 on January 1, 2020. The truck has an expected salvage value of $2,400, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 13,600 in 2020 and 12,100 in 2021. (a1) Your answer is correct. Calculate depreciation expense per mile under units-of-activity method. (Round answer to 2 decimal places, e.g. 0.50 Depreciation expense Click if you would like to Show Work for this question: Open Show Worlk 0.3 per mile SHOW LIST OF ACCOUNTS SHOW SOLUTION SHOW ANSWER LINK TO TEXT (b1) Assume that Pharoah uses the straight-line method. Prepare the journal entry to record 2020 depreciation. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round answers to 0 decimal places, e.g. 2,125.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS
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