2 nts Print Jessica Grewal decided to open a food truck business, the Samosa Shack. She encountered the following transactions in managing her equipment over the first 2 years of her business. April 1, 2021 October 1, 2021 December 31, 2021 April 1, 2022 December 31, 2022 March 31, 2023 Purchased food truck for $81,000 and paid $8,100 to have a commercial oven installed. Other costs that she incurred are $8,100 for insurance on the truck for the first year, and $3,000 to have the truck painted with her Samosa Shack logo. Jessica estimates that the truck would last 5 years and have a $9,000 residual value. The oven is also expected to last 5 years and have a $600 residual value. The oven broke down and cost $2,400 to repair. Recorded the adjusting entry for depreciation and insurance. Replaced all of the tires with all-season tires for $3,000 and paid another year of insurance for $8,100. Recorded the adjusting entry for depreciation and insurance. Jessica was exhausted from the food truck business, and decided to go back to school and sell the food truck to her friend Mark. He paid her $33,000 for the truck and oven, which included $900 for the oven component. Note: The company calculates depreciation using the straight-line method to the nearest month. Required: Record all the entries for the 2 years that Jessica owned the truck, including the disposal of the truck and oven.

Jessica Grewal decided to open a food truck business, the Samosa Shack. She encountered the following transactions in maneging her equipment over the first 2 years of her business. Apri1 1, 2921 October 1, 2021 Decenter 31, 2921 April 1, 2022 Decenber 31,2a22 March 31,2623 Purchased food truck for $1,909 and paid $8,100 to have a comercial oven installed, Other costs that she incurred are $8,109 for insurance on the truck for the first year, and $3,000 to harre the truck painted with ber Samosa Shack 10go. Jessica estimates that the truck would last 5 years and have a $9,009 resfolual value. The oven is also expected to last 5 years and have a $600 residual value. The oven broke down and cost $2,400 to repair. Recorded the adjustine entry for depreclation and insurance. Beplaced all of the tires with all-seasen tires for $3,090 and paid another year of insurance for \$3, 100. Recorded the adjustine entry for depreciation and insurance. Jessica was exhausted fron the food truck business, and decided to go back to school and sell the for the oven composent. Note: The company calculates depreciavion using the straight line method to the nearest manth Required: Record all the entries for the 2 years that Jessico owned the truck, including the disposol of the truck and oven