On January 1, 2001, RST Purchased 10 Identical Trucks That

On January 1, 2001, RST purchased 10 identical trucks that cost $24,000 each. Each truck has an estimated useful life of 4 years and a residual value of 10 percent of cost. On January 19, 2002, one truck was destroyed in an accident; salvage recovery was $6,500. These trucks are being depreciated using the group system, applied on the straight-line basis. The accounting period ends December 31. RST has a December 31 year-end and only accounts for amortization at year-end.
Required: Complete the following schedule: $\begin{array}{|l|l|l|l|l|}\hline &{\text { Amortization }} & \\\hline \text { Date } & \text { Event } & \text { Trucks} & \text { Expense } & \text { Accumulated Amortization } \\\hline 1-1-2001 & & & & \\\hline12-31-2001\\\hline\\\hline\text { Balance }\\\hline\\\hline 12-31-2001 & \\\hline 1-19-2002 & \\\hline 12-31-2002 & \\\hline\\\hline\text { Balance }\\\hline\\\hline 12-31-2002\\\hline\end{array}$