2. Replaced the steel tracks on the bulldozer at a cost of $37,000, purchased on account. Record the transaction. (1B)

3. Wrote a check for the amount owed on account for the work completed on January 3. Record the transaction (1B)

4. Repaired the leather seat on the bulldozer and wrote a check for the full $2,500 cost. Record the transaction (1B)

5. Paid $13,800 cash for the rights to use computer software for a two-year period. Record the transaction (1B)

Required information [The following information applies to the questions displayed below.] Precision Construction entered into the following transactions during a recent year January 2 Purchased a bulldozer for $284,000 by paying $37,000 cash and signing a $247,000 note due in five January3 Replaced the steel tracks on the bulldozer at a cost of $37,000, purchased on account. The new January 30 Wrote a check for the amount owed on account for the work completed on January 3 years steel tracks increase the bulldozer's operating efficiency February 1 Repaired the leather seat on the bulldozer and wrote a check for the full $2,500 cost. March 1 Paid $13, 800 cash for the rights to use computer software for a two-year period 1-b. Prepare the journal entries for each of the above transactions. 2. For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization that Precision Construction should report for the quarter ended March 31. The equipment is depreciated using the double-declining-balance method with a useful life of five years and $57,000 residual value 3. Prepare a journal entry to record the depreciation and amortization calculated in requirement 2 Complete this question by entering your answers in the tabs below Req 1B Req 2 Req 3 Prepare the journal entries for each of the above transactions. (If no entry is required for a transaction/event, select "No ournal Entry Required" in the first account field.) View transaction list Journal entry worksheet Purchased a bulldozer for $284,000 by paying $37,000 cash and signinga $247,000 note due in five years. Record the transaction Note: Enter debits before credits. Date General Journal Debit Credit January 02 Record entry Clear entry View general journal Req 18 Req 2 >