depreciation

Debbieboyd · #1 Nov 16, 2006, 10:54 AM

I am trying to journalize this problem.
purchased a truck for 26,500
purchase new transmission 4,000, the old transmissionwas estimated to have a value of 500. the new transmission is expected to have a useful life equal to the remaining life of the truck.
paid garage 285 for miscellaneous repairs to the truck.
recorded depreciation on the truck and transmission coponenet for the fiscal year. the estimated useful life of the truck and transmission is 4 years, with a residual value of 6,000 for the truck. Can anyone help me with this. journalize with adjusting entries.



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