On January 1,2015,a corporation acquired a truck for $600,000.Residual value was estimated to be $20,000.The truck can be driven for 50,000 miles over the next 3 years.Actual usage of the truck was recorded as 8,640 miles for the first year.Give journal entry to record depreciation for the first year calculated as per the units-of-production method.(Do not round your intermediate calculations.)

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The Answer of On January 1,2015,a corporation acquired a truck for $600,000.Residual value was estimated to be $20,000.The truck can be driven for 50,000 miles over the next 3 years.Actual usage of the truck was recorded as 8,640 miles for the first year.Give journal entry to record depreciation for the first year calculated as per the units-of-production method.(Do not round your intermediate calculations.)

On January 1,2015,a Corporation Acquired a Truck for $600,000