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On January 1, 20X1, ZipCo, which uses UOP depreciation, purchases a truck for $24,000 with...

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Accounting

On January 1, 20X1, ZipCo, which uses UOP depreciation, purchases a truck for $24,000 with an estimated useful life of 100,000 miles and a residual value of $4,000. Miles driven are as follows: Year Miles 20X1 20,000 20X2 15,000 20X3 10,000 20X4 25,000 20X5 30,000 Depreciation expense for the truck is 20X1 is: $4,000 $4,800 $24,000 $20,000

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