Trenton Transport is a large trucking company. Trenton Transport uses the units of production (UOP) method to depreciate its trucks. In 2015, Trenton Transport acquired a Mack truck costing $380,000 with useful life of 10 years or 968,750 miles. Estimated residual value was $70,000. The truck was driven 85,000 miles in 2015; 105,000 miles in 2016 and 115,000 miles in 2017. After 25,000 miles in 2018, Trenton Transport traded in the Mack truck for a new Freightliner that cost $524,400. Trenton Transport received a $300,400 trade-in allowance for the old truck and paid the difference in cash. Joumalize the entry to record the purchase of the new truck, (Round interim calculations to the nearest cent and your final answer to the nearest dollar. Record debits first, then credits. Exclude explanations from journal entries.) Date 2018 Journal Entry Accounts Debit Credit

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