A company purchased a delivery van for $23,000 with a salvage value of $2,000 on January...

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A company purchased a delivery van for $23,000 with a salvage value of $2,000 on January 1, Year 1. It has an estimated useful life of 5 years. If the company uses the straight-line method, the journal entry to record depreciation on December 31. Year 3 would be A Date Dec 31 B Dec 31 C Dec 31 D Dec 31 Account Name Depreciation expense Accumulated depreciation Depreciation expense Accumulated depreciation Depreciation expense Accumulated depreciation Accumulated depreciation Depreciation expense Debit 4,200 12,600 4,600 13,800 Credit 4,200 12,600 4,600 13,800 A company purchased a delivery van for $23,000 with a salvage value of $2,000 on January 1, Year 1. It has an estimated useful life of 5 years. If the company uses the straight-line method, the journal entry to record depreciation on December 31. Year 3 would be A Date Dec 31 B Dec 31 C Dec 31 D Dec 31 Account Name Depreciation expense Accumulated depreciation Depreciation expense Accumulated depreciation Depreciation expense Accumulated depreciation Accumulated depreciation Depreciation expense Debit 4,200 12,600 4,600 13,800 Credit 4,200 12,600 4,600 13,800

Answer rating: 100% (QA)

The correct journal entry to record depreciation on December 31Year 3 would be Option A Date Account ... View the full answer