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On January 1, 2019, Bright Company purchases a truck for $32,000, with an estimated useful life of 4 years and no salvage value. The truck was retired on December 31, 2021, straight method of depreciation is applied and financial statements are prepared annually on December 31. The depreciation adjusting entry for 2021 will include a: Debit depreciation expense $8,000 Debit accumulated depreciation $8,000 Debit depreciation expense $24,000 Debit accumulated depreciation $24,000 None of the above The retirement entry of the truck will include a: Debit depreciation expense $8,000 Debit accumulated depreciation $8,000 Debit depreciation expense $24,000 Debit accumulated depreciation $24,000 8:17 docs.google.com Your email will be recorded when you submit this form * Required Sale Sonic Corporation had a Van with an original cost of $36.000 and estimated useful life of 3 years and no salvage value. On July 1, 2021 the corporation sold the Van and a gain of $1.500 was recorded. The accumulated depreciation on the disposal day was $21,500. On July 1, 2021 the cash received was: $20,000 $16,000 $23,000 $37,500 None of the above Page 6 of 11 Back Next Clear form ever submit passwords through Google Forms A

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