00.4A. Accounting for Plant Assets Ethan Corporation had the following transactions related to its delivery truck: L01, 2, 3 Year 1 Jan. 5 Purchased for $28,000 cash a new truck with an estimated useful life of four years and a salvage value of $4,000. Feb. 20 Installed a new set of side-view mirrors at a cost of $80 cash. June 9 Paid $325 for an engine tune-up, wheel balancing, and a periodic chassis lubrication. Aug. 2 Paid a $410 repair bill for the uninsured portion of damages to the truck caused by Ethan's own driver. Dec. 31 Recorded depreciation on the truck for the year. Year 2 May 1 Installed a set of parts bins in the truck at a cost of $950 cash. This expenditure was not expected to increase the salvage value of the truck. Dec. 31 Recorded depreciation on the truck for the year. Year 3 Dec. 31 Recorded depreciation on the truck for the year. Ethan's depreciation policies include (1) using straight-line depreciation, (2) recording depreciation to the nearest whole month, and (3) expensing all truck expenditures of $100 or less. Required Prepare journal entries to record these transactions and adjustments