Chapter 7, Problem 3.2CS

I need help with accounting

Damell Transport purchased a small delivery vehicle on January 1 at a cost of $26,500. The truck has an estimated useful life of 5 years and an estimated salvage value of $6,500. Prepare a depreciation schedule showing the depreciation expense, accumulated depreciation, and book value for each year using the straight- line depreciation method.

Please explain the accurate process for solving this financial accounting question with proper principles.