Irons delivery inc purchased a new delivery truck for 42000

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Irons Delivery, Inc., purchased a new delivery truck for $42,000 on January 1, 2009. The truck is expected to have a $2,000 residual value at the end of its five-year useful life. Irons uses the straight-line method of depreciation.

Required:

Prepare the journal entry to record depreciation expense for 2009 and 2010.

Reference no: EM13376145

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