On May 31, 2016, Sandals report purchased a truck at a cost of$160,000. before placing the truck into service, The company spend$2,500 painting it, $500 replacing tires, and $5,000 overhaulingthe engine. The truck should remain in service for 5 years and havea residual value of $7,500. The truck’s annual mileage is expectedto be 15,000 in each of the first two years and 10,000 miles in thenext three years. In deciding which depreciation method to use, thegeneral manager request depreciation schedule for each of thedepreciation methods (straight line, unit-of production, and double– declining-balance). work out each depreciation in thedepreciation schedule. pass all transaction in the journal entry.journal entry must be included. show working out for eachdepreciation.

work out the unit of production depreciation in the depreciationschedule. should work out based off the following informationlisted below

Miles                                      60,000

Cost                                        165,000                                  

Residualvalue                      7,500                                      

Depreciableamount               $165,000 - $7,500 = $157,500

Depreciation per unit           157,500 / 60,000 = 2.63