Ly Test 1 ~ Lyryx Learning Inc - Google Chrome X lifa1.lyryx.com/quiz-servlets/QuizServlet?ccid=11218 Question 9 [12 points] Oppong Corporation completed the following transactions involving delivery trucks: 2015 Aug. 28 Paid cash for a new delivery truck, $37,960 plus $2,060 of freight costs. The truck was estimated to have a 6-year life and a $6,000 trade-in value. Dec. 31 Recorded straight-line depreciation on the truck to the nearest whole month. 2016 Dec. 31 Recorded straight-line depreciation on the truck to the nearest whole month. However, due to new information obtained early in January, the original estimated useful life of the truck was changed from 6 to 4 years, and the original estimated trade-in value was increased to $7,000. Enter an appropriate description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (ie. January 15 would be 15/Jan). For each journal entry, indicate how each account affects the balance sheet (Assets, Liabilities, Equity). Use + for increase and - for decrease. For example, if an account decreases equity, choose '-Equity'. Round all answers to the nearest dollar. General Journal Page GJ1 Effect On Date Account/Explanation F Debit Credit Balance Sheet 2015 + - + - 2016 +- Aunation 10 10 maintal 8:12 AM Type here to search 2021-10-04