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Chart of Accounts Journal Instructions The following transactions and adjusting entries were completed by Legacy Furniture Co, during a three-year period. All are related to the use of delivery equipment. The double declining balance method of depreciation is used. Year 1 Jan 4 Nov. 2 Purchased a used delivery truck for 528,400, paying cash. Paid garage 5710 for miscellaneous repairs to the truck. Recorded depreciation on the truck for the year. The estimated useful life of the truck is four years, with a residual value of 54,835 for the truck Dec. 31 Year 2 Jan 6 Apr. 1 Purchased a new truck for $46,800, playing cash. Sold the used truck purchased on January 4 of Year 1 for $15.145. (Recard depreciation to date in Year 2 for the truck Paid garage 5465 for miscellaneous repairs to the truck Recorded depreciation for the new truck. It has an estimated residual value of 58,560 dan estimated Wife of five years June 11 Dec 31 Year 3 * 1 Del 2 Purchased a new truck for 552.960. paying cash. Sold the truck purchased January 6 Year 2 for $16,356, (Record depreciation to date for Year for the truck Dec 31 Recorded depreciation on the remaining truck purchased on July 1 It has an estimated resduvalue af 512375 and an estimated useful We of ght years Required: Journalize the transactions and the adjusting entries. Refer to the chat of account for the exact word of the securities. CNOWjturals de not use lines for journal aplanations. Every fine on a journal page is used for dette erediens ONOWjounale will calienta sredi entry when a credit amount is entered Chart of Accounts Journal Journal Journaize the transactions and the adusting entries. Scroll down to access pages 2 and 3 of the joumal Refer to the chart of accounts for the exact wording of the account des CNOW oumais do not use Ares for ouma explanations. Every the on a journal page is used for det or credit entries. CNOWjoumals ww automatically indent a credit entry when a credit amount is entered Joumaize the Year 1 transactions and adjusting entries on Page 1 PAGE 1 JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POSTRES CREDIT ASSETS LABLES EQUITY 1 Adjusting Entries T joumaite the Year 2 transactions and adjusting entries on Page 2 PAGE: JOURNAL ACCOUNTING EQUATION DATE DESCRIPTION POSTRE DET Oh ASSETS LIABILITIES TOUTY Joumaitee the Year 2 transactions and adjusting entries on Page 2 PAGE 2 JOURNAL ACCOUNTING EQUATION SEE DESTION REGISTREE DET ALLETS LUSLITIES EQUITY + 1 4 1 mee Year 3 sactions and aquating etes on Pege 1 Adjusting Entries Jumate the Year 3 transactions and ausing entries on Page 3 JOURNAL ACCOUNTING EQUATION BATE DESCRIPTION POSTAD DOBIT CREDIT ASSETS LABLE EQUITY it : desting Erre