55. On January 1, Year 1, Meridian Construction Company purc…

55. On January 1, Year 1, Meridian Construction Company purchased a dump truck for $135,000. The dump truck is expected to have a 5-year useful life and salvage value of $15,000.I. Straight-line method.A. Prepare the journal entry to record straight-line depreciation expense for Year 1. Account Title Debit Credit a.           c                    b.