Question 1 Chamberpot Company purchased a truck on January 1,2021, at a cash...
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Question Chamberpot Company purchased a truck on January at a cash cost of $ The estimated residual value was $ and the estimated useful life years. The company uses straightline depreciation computed monthly. On July the company sold the truck for $ cash. A What was the depreciation expense amount per month? B What was the amount of accumulated depreciation at July C Give the required journal entries on the date of disposal, July Assume no depreciation has yet been recorded 
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Chamberpot Company purchased a truck on January at a cash cost of $ The estimated residual value was $ and the estimated useful life years. The company uses straightline depreciation computed monthly. On July the company sold the truck for $ cash.
A What was the depreciation expense amount per month?
B What was the amount of accumulated depreciation at July
C Give the required journal entries on the date of disposal, July Assume no depreciation has yet been recorded
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