5 Jessica Grewal decided to open a food truck business, the Samosa Shack. She encountered the following transactions in managing ther equipment over the first 2 years of her business. April 1, 2021 01:37:30 October 1, 2021 December 31, 2021 April 1, 2022 December 31, 2022 March 31, 2023 Purchased food truck for $69,000 and paid $6,900 to have a commercial oven installed. Other costs that she incurred are $6,900 for insurance on the truck for the first year, and $6,000 to have the truck painted with her Samosa Shack logo. Jessica estimates that the truck would last 5 years and have a $6,000 residual value. The oven is also expected to last 5 years and have a $900 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 $2,400 and paid another year of insurance for $6,900. 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 $36,000 for the truck and oven, which included $1,200 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 managing ther equipment over the first 2 years of her business. Apei1 1, 2021 October 1, 2021 Decenberi 31, 2e21 Apri1 1, 2022 Deceeber 31, 2ez2 March 31, 2 e23 Purchased food truck for $69,000 and paid $6,9e to have a connercial oven installed. Other cests that she incurred are $6,900 for insurance on the truck for the first year, and $6,00e to have the truck painted with her samosa shack logo. lessica estinates that the truck would last 5 years and have a $6,600 residual value. The oven is also expected to last 5 years and have a $9e9 residual value. The oven broke down and cost $2, tee to repair. Recoeded the adjusting entry for depreciation and insurance. Replaced all of the tires aith all-season tires for $2,400 and paid another year of insurance for 56,900 . Recorded the adjusting entry for depreciation and insurance. Jessica was exhausted fron the food truck busiress, and decided to go back to school and sell the food truck to har friend Mark, Me paid her $36, eee for the truck and oven, which included $1,2e0 for the even ecoponent: Nore: The company calculates depreciation ising the straight-fine method to the nearest month. Required: Required: Record all the entres for the 2 years that Jessica owned the truck, including the disposal of the truck and oven March 31, 2023 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 $36,ee for the truck and oven, which included $1,200 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. Journal entry worksheet Journal entry worksheet 56 Record insurance expense of 2021 for 9 months. Note: Enter debins before credits. Journal entry worksheet Journal entry worksheet Journal entry worksheet Record purchase of tires and insurance for year. Note: Enter debits before credits. Journal entry worksheet Note: triter debits before credits. Journal entry worksheet Journal entry worksheet Journal entry worksheet Journal entry worksheet Journal entry worksheet