Assume that a Payless drugstore completed the following transactions:

\section*{\(19 \mathrm{X} 2\)}

Jan. 6 Paid \(\$ 9,000\) cash for a used delivery truck.

7 Paid \(\$ 800\) to have the truck engine overhauled.

8 Paid \(\$ 200\) to have the truck modified for business use.

Aug. 21 Paid \(\$ 156\) for a minor tuneup.

Dec. 31 Recorded depreciation on the truck by the double-declining-balance method (assume a four-year life and a \(\$ 2,000\) residual value).

31 Closed the appropriate accounts.

Feb. 8 Traded in the delivery truck for a new truck costing \(\$ 13,000\). The dealer granted a \(\$ 4,000\) allowance on the old truck, and the store paid the balance in cash. Recorded 19X3 depreciation for the year to date and then recorded the exchange of trucks.
July 8 Repaired the new truck's damaged fender for \(\$ 625\) cash.
Dec. 31 Recorded depreciation on the new truck by the double-declining-balance method. (Assume a four-year life and a residual value of \(\$ 3,000\).)
31 Closed the appropriate accounts.
\section*{Required}
1. Open the following accounts in the general ledger: Delivery Trucks; Accumulated Depreciation-Delivery Trucks; Truck Repair Expense; Depreciation Expense-Delivery Trucks; and Loss on Exchange of Delivery Trucks.
2. Record the transaction in the general journal, and post to the ledger accounts opened.
Recording plant asset transactions, exchanges, changes in useful life (Obj. 1,3,5,8)