Question: please help asap! will give thimbs up :) Heathcote Limited purchased a delivery truck on January 1,2022 , for $600,000, estimating a 5-year useful life
please help asap! will give thimbs up :)
Heathcote Limited purchased a delivery truck on January 1,2022 , for $600,000, estimating a 5-year useful life and $60,000 residual value. In 2022 and 2023 , Heathcote depreciated the asset using the sum-of-the-years'-digits method. In 2024, Heathcote changed to the double declining balance method to depreciate this delivery truck. Prepare the 2024 journal entry to record depreciation on this delivery truck? [ 8 points]
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