Question: help whats wrong. please correct the ones in red. A. Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January

help whats wrong. please correct the ones in red.
A. help whats wrong. please correct the ones in red. A. Yoshi Company
completed the following transactions and events involving its delivery trucks. Year 1

Yoshi Company completed the following transactions and events involving its delivery trucks. Year 1 January 1 Paid $20,515 cash plus $1,485 in sales tax for a new delivery truck estimated to have a f ive-year 1 ife and a $2,000 salvage value. Delivery truck costs are recorded in the Trueks account. December 31 Recorded annual straight-1ine depreclation on the truck. Year 2 December 31 The truck's estimated useful life was changed from five to four years, and the estimated tlalvage value was inereased to $2,400. Recorded annual straight-1ine depreciation on the truek. Year 3 Decerber 31 Recorded annual straight-1ine depreciation on the truck. December 31 sold the truck for $5,300 cash. Required: 1-a. Calculate depreciation for Year 2. 1-b. Calculate book value and gain (loss) for sale of Truck on December 31, Year 3. 1-c. Prepare journal entries to record these transactions and events. Complete this question by entering your answers in the tabs below. Prepare journal entries to record these transactions and events. \begin{tabular}{|c|c|c|c|c|c|} \hline no & vate & venerar vou & & vern & Greait \\ \hline \multirow[t]{2}{*}{1} & January 01, Year 1 & Depreciation expense-Trucks & (2) & 22,000 & \\ \hline & & Cash & 0 & & 22,000 \\ \hline \multirow[t]{2}{*}{2} & December 31, Year & Depreciation expense-Equipment & & 4,0000 & \\ \hline & & Accumulated depletion & (2 & & 4,0000 \\ \hline \multirow[t]{2}{*}{3} & December 31, Year & at Depletion expense & (x) & 5,200 & \\ \hline & & Accumulated depreciation-Trucks & 0 & & 5,2000 \\ \hline \multirow[t]{2}{*}{4} & December 31, Year & ar Depletion expense & (2) & 5.300 & b \\ \hline & & Accumulated depreciation-Trucks & & & 14,400 \\ \hline \multirow{4}{*}{5} & December 31, Year & bar Cash & & 5.3000 & \\ \hline & & Accumulated depreciation-Trucks & 0 & 14,4000 & \\ \hline & & Loss on exchange of assets & & 2,3000 & \\ \hline & & Trucks & 0 & & 22,0000 \\ \hline \end{tabular} Required 1B

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