Question

Record the following entries for Goldfinger, Ltd. In 2008, Goldfinger purchased a new truck for $36,000 cash. The estimated salvage value is $1,000. Goldfinger uses the units activity method for recording depreciation. The truck has an estimated useful life of 6 years and 122.000 miles of operation. During 2008, the truck was driven 4.034 miles. Record depreciation expense for 2008. During 2004, the truck was driven 12.700 miles. Record depreciation expense for 2009. At the end of 2009, the machine was sold to moonraker Inc for $26,000. Record the sale of the equipment. Show all calculations