On july 1, 2013, farm fresh industries purchased a specialized delivery truck for $126,000. at the time, farm fresh estimated the truck to have a useful life of eight years and a residual value of $30,000. on march 1, 2018, the truck was sold for $58,000. farm fresh uses the straight-line depreciation method for all of its plant and equipment. partial-year depreciation is calculated based on the number of months the asset is in service. required: prepare the journal entry to update depreciation in 2018. prepare the journal entry to record the sale of the truck. assuming that the truck was sold for $80,000, prepare the journal entry to record the sale