South Company purchased a truck that was placed in service on January 1, 2021. The...
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Accounting
South Company purchased a truck that was placed in service on January 1, 2021. The company paid $18,000 for the truck, plus $2,000 transportation costs. The truck is being depreciated over 5 years using the double-declining-balance method. The trucks estimated salvage value is $1,000. How much depreciation should South report in its December 31, 2022, financial statements?
Group of answer choices
$4,560
$8,000
$4,800
$7,600
#10
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