Bock Instructions Year 1 Jan. 4 Nov. 2 Purchased a used delivery truck for $29,200, paying cash. Paid garage $650 for miscellaneous repairs to the truck Recorded depreciation on the truck for the year. The estimated useful ife of the track is four years, with a residual value of 54,505 for the truck Dec. 31 Year 2 Jan. 6 Apr. 1 Purchased a new truck for $49,900, paying cash. Sold the used truck purchased on January 4 of Year 1 for $15.710 (Record depreciation to date in Your 2 for the truck) Paid garage 5495 for miscellaneous repairs to the truck Recorded depreciation for the new truck. It has an estimated residual value of $8,790 and an estimated te of five years June 11 Dec. 31 Year 3 July 1 Oct 2 Purchased a new truck for $55,320, paying cash. Sold the truck purchased January 6, Year 2, for $17,708. (Record depreciation to date for Year 3 for the truck.) Recorded depreciation on the remaining truck purchased on July 1. It has an estimated residual value of $11,715 and an estimated useful life of eight years, Dec. 31 Required: Journalize the transactions and the adjusting entries. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debitor credit entries. CNOW Journals will automatically indent a credit entry when a credit amount is entered Bock Instructions Year 1 Jan. 4 Nov. 2 Purchased a used delivery truck for $29,200, paying cash. Paid garage $650 for miscellaneous repairs to the truck Recorded depreciation on the truck for the year. The estimated useful ife of the track is four years, with a residual value of 54,505 for the truck Dec. 31 Year 2 Jan. 6 Apr. 1 Purchased a new truck for $49,900, paying cash. Sold the used truck purchased on January 4 of Year 1 for $15.710 (Record depreciation to date in Your 2 for the truck) Paid garage 5495 for miscellaneous repairs to the truck Recorded depreciation for the new truck. It has an estimated residual value of $8,790 and an estimated te of five years June 11 Dec. 31 Year 3 July 1 Oct 2 Purchased a new truck for $55,320, paying cash. Sold the truck purchased January 6, Year 2, for $17,708. (Record depreciation to date for Year 3 for the truck.) Recorded depreciation on the remaining truck purchased on July 1. It has an estimated residual value of $11,715 and an estimated useful life of eight years, Dec. 31 Required: Journalize the transactions and the adjusting entries. Refer to the chart of accounts for the exact wording of the account titles. CNOW journals do not use lines for journal explanations. Every line on a journal page is used for debitor credit entries. CNOW Journals will automatically indent a credit entry when a credit amount is entered
