Calculator Print Item Instructions The following transactions and adjusting entries were completed by Legacy Furniture Ca, during a three year period. Al are related to the use of delivery equipment. The double declining balance method of depreciation is used. Year 1 Jan. 4. Nov. 2. Dec. 31. Purchased a used delivery truck for $26.000, paying cash. Paid garage $825 for miscellaneous repairs to the truck Recorded depreciation on the truck for the year. The estimated useful life of the truck is four years, with a residual value of $2,000 for the truck Year 2 Jan. 6. Apt. 1. June 11 Dec. 31. Purchased a new truck for $60,000. paying cash. Sold the used truck for $14,000. (Record depreciation to date in Year 2 for the truck.) Paid garage $280 for miscellaneous repairs to the truck Record depreciation for the new truck. It has an estimated residual value of $7.000 and an estimated ife of five years Year 3 July 1. Oct. 2. Purchased a new truck for $65.000 paying cash Sold the truck purchased January 6. Year 2 for $19,520 (Record depreciation to date for Year 3 for the truck.) Recorded depreciation on the remaining truck. It has an estimated residual vakre of $6.000 and an estimated useful life of eight years Dec, 31. Joumalize the transactions and the adjusting enties. Refer to the Chair or Accounts for exacr wordling of account titles Check My Work 9 Homework eBook * Calculator E Print item REVENUE ASSETS 110 Cash 111 Petty Cash 112 Accounts Receivable 410 Sales 610 Interest Revenue 620 Gain on Sale of Delivery Truck 621 Gain on Sale of Equipment 114 Interest Receivable 115 Notes Receivable 116 Merchandise Inventory 117 Supplies 119 Prepaid Insurance 120 Land 123 Delivery Truck 124 Accumulated Depreciation-Delivery Truck 125 Equipment 126 Accumulated Depreciation-Equipment EXPENSES 510 Cost of Merchandise Sold 520 Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Delivery Truck 523 Delivery Expense 525 Truck Repair and Maintenance Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Equipment 533 Depletion Expense 534 Amortization Expense-Patents 535 Insurance Expense 536 Supplies Expense 130 Mineral Rights 131 Accumulated Depletion 132 Goodwill 133 Patents LIABILITIES My Wur omework eBook 124 Accumulated Depreciation-Delivery Truck 125 Equipment 126 Accumulated Depreciation-Equipment 130 Mineral Rights 131 Accumulated Depletion 132 Goodwill 133 Patents Calculator Print Item 523 Delivery Expense 525 Truck Repair and Maintenance Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Equipment 533 Depletion Expense 534 Amortization Expense-Patents 535 Insurance Expense 536 Supplies Expense 539 Miscellaneous Expense 710 Interest Expense 720 Loss on Sale of Delivery Truck 721 Loss on Sale of Equipment LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends Work