Depreciation by units-of-activity Method Prior to adjustment at the end of the year, the balance in Trucks is $428,400 and the balance in Accumulated Depreciation-Trucks is $130,880. Details of the subsidiary ledger are as follows: Truck No. Estimated Residual Value Estimated Useful Life Accumulated Depreciation at Beginning of Year Cost 1 $84,500 $12,675 13,848 210,000 miles 410,000 Miles Operated During Year 31,500 miles 41,000 21,800 42,000 2 115,400 $23,080 3 103,500 14,490 15,000 218,000 350,000 $82,800 $25,000 4 125,000 a. Determine for each truck the depreciation rate per mile and the amount to be credited to the accumulated depreciation section of each subsidiary account for the miles operated during the current year, Keep in mind that the depreciation taken cannot reduce the book value of the truck below its residual value Round the rate per mile to two decimal places. Enter all values as positive amounts Rate per Mile (in cents) Truck No. Credit to Accumulated Depreciation Miles Operated 1 0.34 31,500 $ 10,710 2 0.25 41,000 $ 10,250 3 0.41 21,800 $ 14,700 x 4 0.31 42,000 $ 13,020 Total $ Fondback b. Journalize the entry to record depreciation for the year. Depreciation Expense-Trucks Accumulated Depreciation-Trucks