Question: need d to be anwsered Current Attempt in Progress Sheridan Company purchased a delivery truck for $36,000 on July 1, 2022. The truck has an

need d to be anwsered  need d to be anwsered Current Attempt in Progress Sheridan Company
purchased a delivery truck for $36,000 on July 1, 2022. The truck
has an expected salvage value of $2,000, and is expected to be
driven 100,000 miles over its estimated useful life of 8 years. Actual

Current Attempt in Progress Sheridan Company purchased a delivery truck for $36,000 on July 1, 2022. The truck has an expected salvage value of $2,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2022 and 12,000 in 2023. Sheridan uses the straight-line method of depreciation. (a) Your answer is correct Compute depreciation expense for 2022 and 2023 Depreciation Expense 2022 2023 Straight-line method $ 2125 $ 4250 (b) Your answer is correct Prepare the journal entry to record 2022 depreciation. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Debreciation Expen 2125 Acted Donation Equipment 2125 (C) Your answer is correct Prepare the journal entry to record 2023 depreciation. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Account Titles and explanation Debit Credit Depreciation Experte 4250 Accumulated Depreciation Equipment 4250 (d) Show how the truck would be reported in the December 31, 2023, balance sheet. SHERIDAN COMPANY Partial Balance Sheet December 31, 2023

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