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Prior to adjustment at the end of the year, the balance in Trucks is $301,884...

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Accounting

Prior to adjustment at the end of the year, the balance in Trucks is $301,884 and the balance in Accumulated DepreciationTrucks is $100,880. Details of the subsidiary ledger are as follows:
Estimated
Accumulated Depreciation at
Miles Operated
Truck No.
Cost
Residual Value
Useful Life
Beginning of Year
During Year
1 $79,610 $14,610250,000 miles 20,800 miles
257,4956,070302,500 miles $14,61032,100 miles
376,06013,750201,000 miles 61,3808,400 miles
488,71922,920243,700 miles 24,89022,800 miles
a. Determine the depreciation rates per mile and the amount to be credited to the accumulated depreciation section of each of the subsidiary accounts for the miles operated during the current year.
b. Journalize the entry on December 31 to record depreciation for the year.

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