1. Truck maintenance performed totaled $550; Equipment was installed on the truck for $4,400; new motor installed in piece of equipment for $6,500. **All costs were paid. Prepare the journal entry to record these events. Date Debit Credit Accounts Maintenance expense 550 2. On January 1, 2018 Lucy Co. purchased a vehicle for $65,000 cash. The estimated useful life is 5 years with a salvage value of $2,500. a. Journalize the purchase of the equipment and the depreciation expense for 2018 using the Straight-line method. b. What is the book value of the vehicle after year 2? Date Accounts Debit Credit