Apex trucking purchased a truck for $100,000 on January 1, 2017. The useful life of the truck was estimated to be either five years or 200,000miles….

Apex trucking purchased a truck for $100,000 on January 1, 2017. The useful life of the truck was estimated to be either five years or 200,000miles. Salavage value was estimated at $20,0000. Over the actual life of the truck, it logged the following miles:

year 1 = 48,000 miles

year 2 = 35,000 miles

year 3 = 40,000 miles

year 4 = 25,000 miles

year 5 = 35,000 miles

year 6 = 10,000 miles

At the tend of the six year, the truck was sold for $12,000.

Prepare the journal entries to record depreciation over the life of the truck and its sale, assuming there methods:

1. Activity Method
2. Straight-line method.