Soon after December $31,2023,$ the auditor of Monty Corp: asked the company to prepare a depreciation schedule for semi trucks that

showed the additions, retirements, depreciation, and other data that affected the company's income in the four$-$year period from

$2020$ to $2023,$ inclusive. The following data were obtained:

Balance of Trucks account, January $1,2020$:

Truckno. $1,$ purchased Jan. $1,2017,$ cost

$$18,000$

Truck no$.2,$ purchased July $1,2017,$ cost

$22,000$

Truck no$.3,$ purchased Jan. $1,2019,$ cost

$28,000$

Truck no$.4,$ purchased July $1,2019,$ cost

Balance, January $1,2020$

The account Accumulated Depreciation$-$Trucks had a correct balance of $$29,800$ on January $1,2020.($This includes depreciation on

the four trucks from the respective dates of purchase, based on a $5-$year life, with no residual value.$)$ No charges had been made

against the account before January $1,2020.$

Transactions between January $1,2020,$ and December $31,2023,$ and their records in the ledger were as follows:

July $1,2020$ Truck no$.3$ was traded for a larger one $($no$.$ S$).$ The agreed purchase price $($fair value$)$ was $$32,000.$ Monty paid the

automobile dealer $$15,000$ cash on the transaction. The entry was a debit to Vehicles and a credit to Cash,

$$15,000.$

Jan. $1,2021$ Truck no$.1$ was sold for $$3,200$ cash. The entry was a debit to Cash and a credit to Vehicles, $$3,200.$

July $1,2022$ A new truck $($no$.6)$ was acquired for $$38,000$ cash and was charged at that amount to the Vehicles account.

$($Assume truck no$.2$ was not retired.$)$

July $1,2022$ Truck no$.4$ was so badly damaged in an accident that it was sold as scrap for $$800$ cash. Monty received $$2,000$

from the insurance company. The entry made by the bookkeeper was a debit to Cash, $$2,800$; and credits to Gain

on Disposal of Vehicles, $$800$; and Vehicles, $$2,000.$

Entries for depreciation were made at the close of each year as follows: $2020,$$$20,000$;$2021,$$$20,700$;$2022,$$$23,900$; and $2023,$

$$27,300.$