Depreciation and overhauls

GST version

Branson Ltd owns two delivery vehicles (each with a residual value of $5,000 and useful life of 4 years) and uses the straight-line method of depreciation. The business closes its accounting records annually on 30 June. The following events and transactions occurred during the first 3 financial years.

20192020:
1 July 2019	Purchased a delivery truck from Mangrove Mountain Motors for $66,000 (GST Inclusive) plus cash plus stamp duty of $620 (GST exempt), and registration and third-party insurance of $840 (GST exempt).
1 June 2020	Made minor repairs to the truck for cash at a cost of $462 (GST Inclusive).
30 June 2020	Recorded annual depreciation.
20202021:
1 July 2020	Purchased a delivery van from Northern Motors for cash, $49,500 (GST Inclusive). This van was a used vehicle which was expected to last 4 years from the date of purchase. Fitted four new tyres to the van at a cash cost of $1,452 (GST Inclusive).
30 June 2021	Recorded depreciation on both truck and van.
20212022:
1 July 2021	Paid $4,070 (GST Inclusive) for an overhaul of the motor of the delivery truck. This expenditure is expected to extend the useful life by 1 year. The parts replaced in the truck were considered to have a carrying amount of $2,000. Installed a two-way radio in the delivery van at a cost of $1,760 (GST Inclusive) to improve efficiency. This expenditure will not increase the useful life.
30 June 2022	Recorded depreciation on both truck and van.

Required

Prepare the general journal entries to record the transactions of Branson Ltd as they relate to both vehicles from 1 July 2019 to 30 June 2022.

Instructions:

Please include commas in your amounts to separate thousands in your amounts (do not include spaces or dollar signs).

Round amounts to whole numbers (nearest dollar).

Copy and paste the relevant account name from Table 1 below when completing the general journal entries:

Table 1 Account names:

Repair Expense

Delivery Vehicles

Communication Equipment

GST Receivable

Accumulated Depreciation Delivery Vehicles

Depreciation Expense

Cash at Bank

Expense of Parts Replaced