Disposals $--$Practice$-$Jano Inc.

Using the information provided below, on the depreciation calculation table, and from your gain$/$loss calculations, record the

$5$ following journal entries related to the semi truck.

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.

Dec $31-$Recorded the adjusting entry at the end of Year $1$ for depreciation on the semi truck.

Dec $31-$Recorded the adjusting entry at the end of Year $2$ for depreciation on the semi truck.

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.

Jan $1-$Scrapped the semi truck.

Jan $1-$Sold the semi truck for $$77,000.$

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.