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Year 1 Jan 4 Nov 2 Dec 31 Purchased a used delivery truck for $26,960,...

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Accounting

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Year 1 Jan 4 Nov 2 Dec 31 Purchased a used delivery truck for $26,960, paying cash Paid garage 5600 for miscellaneous repairs to the truck Recorded depreciation on the truck for the year. The estimated unetu Me of the truck is four years, with a residual value of $5,250 for the truck Year 2 Jan. 6 Ape 1 June 11 Purchased a new truck for $50,150, paying cash. Sold the used truck for $14.400 (Record depreciation to date in Year 2 for the truck) Paid garage $465 for miscellaneous repairs to the truck Record depreciation for the new truck. It has an estimated residual value of $8,850 and an estimated We of five years Dec 31 Year 3 July 1 Oct. 2 Purchased a new truck for $55,520, paying cash. Sold the truck purchased January 6 Year 2 for $17.473. (Record depreciation to date for Year 3 for the truck) Recorded depreciation on the remaining truck. It has an estimated residual value of $12.565 and an estimated useful life of eight years Dec. 31 JOURNAL ACTION DATE DESCRIPTION POST.EE DET 1 COM 3 Adjusting Entries Joumalize the Year 2 transactions and adjusting en in Page 2 ACCONTINGELANO JOURDAL AVE POSER DEP BESON DATE

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