ed The following information applies to the questions displayed below.) Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $16,000. They expect to use the Suburban for five years and then sell the vehicle for $6,500. The following expenditures related to the vehicle were also made on July 1, 2025 . The company pays $2,800 to GEICO for a one-year insurance policy. .The company spends an extra $7,000 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $3,000 is spent on a deluxe roof rack and a trailer hitch The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $2,400 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter ok rint erences RWP7-1 (Algo) Great Adventures Continuing Case Part 1 Required: 1. Record the expenditures related to the vehicle on July 1, 2025. Note: The capitalized cost of the vehicle is recorded in the Equipment account. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the expenditures related to the new vehicle. Note: Enter debits before credits Date July 01, 2025 General Journal Debit Credit ed bok erences Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $16,000. They expect to use the Suburban for five years and then sell the vehicle for $6,500. The following expenditures related to the vehicle were also made on July 1, 2025 The company pays $2.800 to GEICO for a one-year insurance policy. The company spends an extra $7,000 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $3,000 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $2,400 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. RWP7-1 (Algo) Great Adventures Continuing Case Part 2 2. Record the expenditure related to vehicle maintenance on October 22, 2025. (If no entry is required for a transaction/event. select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the expenditure related to vehicle maintenance. Note: Enter debits before credits Date October 22, 2025 General Journal Debit Credit Required information RWP7-1 (Algo) Great Adventures Continuing Case The following information applies to the questions displayed below] Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $16,000. They expect to use the Suburban for five years and then sell the vehicle for $6,500. The following expenditures related to the vehicle were also made on July 1, 2025 . The company pays $2,800 to GEICO for a one-year insurance policy. " The company spends an extra $7,000 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $3,000 is spent on a deluxe roof rack and a trailer hitch The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $2,400 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter RWP7-1 (Algo) Great Adventures Continuing Case Part 3 3. Prepare a depreciation schedule using the straight-line method Year 2025 GREAT ADVENTURES End of Year Amounts Depreciation Accumulated Expense Depreciation Book Value 2026 2027 2028 2029 2030 Total $ Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $16,000. They expect to use the Suburban for five years and then sell the vehicle for $6,500. The following expenditures related to the vehicle were also made on July 1, 2025 The company pays $2,800 to GEICO for a one-year insurance policy. The company spends an extra $7,000 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $3,000 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $2,400 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter RWP7-1 (Algo) Great Adventures Continuing Case Part 4 4. Record the depreciation expense and any other adjusting entries related to the vehicle on December 31, 2025. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet < 1 2 Record the depreciation expense for the vehicle. Note: Enter debits before credits Date: December 31, 2025 General Journal Debit Credit < Prev of 10 Next >> [The following information applies to the questions displayed below.] Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $16,000. They expect to use the Suburban for five years and then sell the vehicle for $6,500. The following expenditures related to the vehicle were also made on July 1, 2025 The company pays $2,800 to GEICO for a one-year insurance policy. . The company spends an extra $7,000 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $3,000 is spent on a deluxe roof rack and a trailer hitch The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $2,400 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. RWP7-1 (Algo) Great Adventures Continuing Case Part 5 Required: 5. Record the sale of the vehicle two years later on July 1, 2027, for $14,000 (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 Record the sale of equipment. Note: Enter debits before credits. Cate July 01.2027 General Journal Debit Credit >