AE Disposals- Practice-Jano Inc. Using the information provided below, on the depreciation calculation table, and from your gain/loss calculations, record the following journal entries related to the semi truck. 1. On January 1, 2025, Jano Inc. bought a semi truck for $210,000. Jano Inc. plans to use the truck for 4 years or 407,500 miles, and estimates that it will be worth $50,000 at the end of its useful life. Jano Inc. paid $3,000 to have an air foil installed on the truck. The units-of-production method is used to depreciate the truck. 2. Dec 31 - Recorded the adjusting entry at the end of Year 1 for depreciation on the semi truck. 3 . Dec 31 - Recorded the adjusting entry at the end of Year 2 for depreciation on the semi truck. 4. Dec 31 - Recorded the adjusting entry at the end of Year 3 for depreciation on the semi truck. Consider each of the following transactions to be 3 alternatives. So each entry will have the same date and will be recorded as if the other two transactions had not occurred. 5. Jan 1 - Scrapped the semi truck. 6. Jan 1 - Sold the semi truck for $77,000. 7. Jan 1- Traded in the old semi truck for new, similar semi truck. The trade-in value of the old truck is $60,000 and the list price of the new truck is $268,000. Journal Note: Start each entry on a starred row. Note: Use the gray-shaded cell for each entry to select the transaction description. Accounts Date debit accounts here credit accounts here PR Debit Credit 2025 Jan 1 Semi truck 213,000 Cash 213,000 Bought a semi truck Dec 31 Depreciation Expense Accumulated Depreciation Record depreciation 2026 + Dec 31 Depreciation Expense Accumulated Depreciation 38