Question: please help asap! will give thimbs up :) Lebsack Ltd purchased a truck on October 1,2024 , for $160,000 with an estimated 7-year life and

please help asap! will give thimbs up :)
please help asap! will give thimbs up :) Lebsack Ltd purchased

Lebsack Ltd purchased a truck on October 1,2024 , for $160,000 with an estimated 7-year life and $17,500 residual value. Lebsack uses straight-line depreciation. The truck was sold on May 31, 2026, for $137,500. PART A Prepare the journal entry to record depreciation in 2026. [2 points]

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