1. Pronghorn Company acquires a delivery truck at a cost of $57,000. The truck is expected to have a salvage value of $6,000 at the end of its 10-year useful life. Compute annual depreciation expense for the first and second years using the straight-line method. 2. On January 1, 2020, Whispering Winds Country Club purchased a new riding mower for $24,000. The mower is expected to have an 8-year life with a $8,000 salvage value. What journal entry would Whispering Winds make at December 31, 2020, if it uses straight-line depreciation?

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