Problem $8-5$A $($Algo$)$ Computing and revising depreciation; selling plant assets LO C$2,$ P$1,$ P$2$

$2\mathrm{.}5$

Yoshi Company completed the following transactions and events involving its delivery trucks.

Year $1$

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January $1$ Paid $$20,515$ cash plus $$1,785$ in sales tax for a new delivery truck estimated to have a five$-$year life and a $$2,450$ salvage value. Delivery truck costs are recorded in the Trucks account.

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December $31$ Recorded annual straight$-$line depreciation on the truck.

Year $2$

December $31$ The truck's estimated useful life was changed from five to four years, and the estimated salvage value was increased to $$2,700.$ Recorded annual straight$-$line depreciation on the truck.

Year $3$

December $31$ Recorded annual straight$-$line depreciation on the truck.

December $31$ Sold the truck for $$5,600$ 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.