EXERCISE 3.3 3.3 Dairy Delights ends its financial year on 31 December. Fixtures and fittings are depreciated at 20% per annum using the diminishing balance method. Motor vehicles are depreciated on the straight-line basis over an estimated useful life of five years, with a residual value equal to 10% of the cost of the vehicle. Dairy Delights purchased a truck for R40 000 on credit on 1 July 2017. The amount owing is payable over a period of 6 months. The licensing expense for the truck amounting to R170 was paid on 1 July 2017 and on the same day a canopy costing R5 000 was purchased on credit from EC Canopy Supplier and fitted to the truck. On 30 August 2017, the company bought new shop fittings for R7 500 cash and paid additional installation costs of R500. The new shop fittings were only ready for use after installation on 1 October 2017. A machine costing R30 000 was purchased for cash on 1 January 2018 which had two major components each with a cost of R15 000. Both components have useful lives of 10 years but the one component is to be depreciated using the sum-of-the-years-digits method while the straight line method is to be used for the other. No other purchases or sales of non-current assets were made in the 2017 and 2018 financial years. REQUIRED: Prepare entries in general journal form (without narrations) to record all transactions, adjustments and closing entries for all events relating to non-current assets for the years ended 31 December 2017 and 2018