A company purchased a new truck at a cost of 42000 on july, Ask an Expert

Accounting

A company purchased a new truck at a cost of $42,000 on July 1, 2008. The truck is estimated to have a useful life of 6 years and a salvage value of $3,000. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the truck for the year ended December 31, 2008?

1. $3,250
2. $3,500
3. $4,000
4. $6,500

describe your answere in steps please.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M991582

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