Oriole Company purchased a delivery truck for $44,000 on July 1,2025. The truck has an...
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Oriole Company purchased a delivery truck for $44,000 on July 1,2025. The truck has an expected salvage value of $4,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2025 and 12,000 in 2026. Oriole uses the straight-line method of depreciation. Show how the truck would be reported in the December 31,2026 , balance sheet
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