analyzing and recording long, lived asset transactions with partial year depreciation

Precision Construction entered into the following transactions during a recent year. January 2 Purchased a bulldozer for $258,000 by paying $24, e6e cash and signing a $234,000 note due in ffue years. January 3 Replaced the steel tracks on the bul1dozer at a cost of 524,000 , purchased on occount. The new stteI trucks increase the bulldozer's operating efficiency. January 30 Wrote o check for the anount owed on account for the hork completed on 3anuary 3. February 1 Repalred the leather seat on the bulldozer and wrote a check for the full $1,200 cost; Mareh 1 Paid $6, ea@ cash for the rights to use computer software for a two-year period. Prepare the journal entries for each of the above transactions. (If no entry is required for a transaction/event, select 'No Joumal entry Required" in the first account field.) 1 Purchased a bulldozer for $258,000 by paying $24,000 cash and signing a $234,000 note due in five years. Record the transaction. 2 Replaced the steel tracks on the bulldozer at a cost of $24,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency. Record the transaction. 3 Wrote a check for the amount owed on account for the work completed on January 3. Record the transaction. 4 Repaired the leather seat on the bulldozer and wrote a check for the full $1,200 cost. Record the transaction. $24,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency. Record the transaction. 3 Wrote a check for the amount owed on account for the work completed on January 3. Record the transaction. 4 Repaired the leather seat on the bulldozer and wrote a check for the full $1,200 cost. Record the transaction. 5 Paid $6,000 cash for the rights to use computer software for a two-year period. Record the transaction. For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization, If any, 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 $45,000 residual value. The licensing right is amortized using the straight-line method with a useful life of two years and no residual value. (Do not round intermedlate calculations.) Prepare a journal entry to record he depreciation and amortization, if any, calculated in requirement 2 . (If no entry is requirnd for 3 transactionfevent, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the depreciation and amortization expense on the bulldozer and computer software for the quarter ended March 31. Notes Eriter ce bits before credits journai entry worksneet Record the depreciation and amortization expense on the bulldozer and computer software for the quarter ended March 31. Note: Enter debits before credits