On January 1, 2019, Brazeau Transport purchased a $165,000 truck for hauling cattle across the border. Brazeau plans on

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On January 1 2019 Brazeau Transport Purchased A 165 000 Truck For Hauling Cattle Across The Border Brazeau Plans On 1 (45.13 KiB) Viewed 10 times

On January 1, 2019, Brazeau Transport purchased a $165,000 truck for hauling cattle across the border. Brazeau plans on driving the truck for four years or 450,000 kilometres. Expected residual value for the truck is $30,000. On June 30, 2022, after having driven the truck 44,000 kilometres, the truck had an accident on the highway and was totalled. The insurance proceeds for the truck was $42,000 cash. What is the loss on the disposal of the truck on June 30, 2022 assuming the amortization expense for the truck to the date of the disposal has already been recorded using the straight-line method? $9,250 $16,875 $4,875 $12,000 I