Assume the following: A truck was purchased on 1/1/19 for $60,000. The truck has an estimated… 1 answer below »

1) Assume the following: A truck was purchased on 1/1/19 for $60,000. The truck has an estimated useful life of 10 years and $5,000 residual value. a. Book the entries (3) to record the first three years of depreciation using the straight-line method. Omit Dates.

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