Amit's Bike Shop Ltd.'s year end is December 31. Some of the company's transactions are as follows: 01-Feb Paid $356,000 cash to purchase the following assets: Asset Land Building Market Value Est. Useful Life Est. Residual Value $100,000 256,000 20 years $24,000 Amit's Bike Shop Ltd. plans to use the straight-line amortization method for the building. 15-Mar Purchased a used pickup truck for $18,500 cash. The truck sells for $25,900 when new. The truck is expected to be used for seven years and driven 100,000 km. The estimated salvage value is $4,000. It will be amortized using the units-of-production method. 01-May Installed heavy-duty racks costing $2,000 that will enable the truck to carry several bicycles. 31-Jul Paid Rahul's garage for an oil change ($65) and the replacement of a muffler ($555). 31-Dec Recorded amortization on the assets. The truck was driven 8,800 kilometres since it was purchased. Instructions Record the above transactions of Amit's Bike Shop Ltd. Round all amounts to the nearest dollar. Explanations are not required.