Cambridge Company purchased a truck on January 1, 2018

Subject:AccountingPrice: Bought3

Share With

Cambridge Company purchased a truck on January 1, 2018. Cambridge paid $20,000 for the truck. The truck is expected to have a $3,500 residual value and a 6-year life. Cambridge has a December 31 fiscal year end. Using the straight-line method, how much is the 2019 depreciation expense? (Enter only whole dollar values.)