Financial Accounting

On March 31 a post closing trial balance was completed On April 4, the business purchased a new truck on account. The residual value is $2400, and the estimated useful life is 5 years. How do I enter this information into a general journal? Do I even need to calculate the depreciation at the beginning of the month?

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  1. general journal
    Truck 2400
    Account payable 2400

    And about the depreciation, it should be calculated at the end of the month not at the beginning of the month.

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