ANSWERS TO QUESTIONS
3Book value of Truck #1 [$18,000 – ($18,000/5 X 4 yrs.)] = $18,000 – $14,400 = $3,600 Cash received on sale = 3,500 Loss on sale $ 100 4Truck #2: $22,000/5 = $4,400 Truck #4: $24,000/5 = 4,800 Truck #5: $34,000/5 = 6,800 Total $16,000 ................
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