Branson Ltd owns two delivery vehicles (each with a residual value of $5000 and useful life of 4 years) and uses the straight‐line method of depreciation. The business closes its accounting records annually on 30 June. The following events and transactions occurred during the first 3 financial years. Ignore GST.

Required 

Prepare entries (in general journal form) to record the transactions of Branson Ltd as they relate to both vehicles to 30 June 2022.

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2019-2020 July 1 1 June June 30 2020-2021 July 1 Purchased a delivery truck from Mangrove Mountain Motors for $60 000 cash plus stamp duty of $620, and registration and third-party insurance of $840. Made minor repairs to the truck for cash at a cost of $420. Recorded annual depreciation. Purchased a delivery van from Northern Motors for cash, $45 000. This van was a used vehicle which was expected to last 4 years from the date of purchase. Fitted four new tyres to the van at a cash cost of $1320. June 30 Recorded depreciation on both truck and van. 2021-2022 July 1 June 30 Paid $3700 for an overhaul of the motor of the delivery truck. This expenditure is expected to extend the useful life by 1 year. The parts replaced in the truck were considered to have a carrying amount of $2000. Installed a two-way radio in the delivery van at a cost of $1600 to improve efficiency. It is anticipated the radio will have a useful life of 6 years with no residual value. This expenditure on the radio will not increase the useful life of the delivery van. Recorded depreciation on both truck and van.