fari File Edit View 28% D Wed 9:44 PM E8-5 Determining Financial Statement Effects of an Asset Acquisition and Depreciation (Straight-Line Depr eciation) LO8-2, 8-3 The following information applies to the questions displayed below.j Steve's Outdoor Company purchased a new delivery van on January 1 for $56,000 plus $4,800 in sales tax. The $47000 balance on credit at 8 percent interest due in nine months (on September 30) On January 2, the company paid cash of $900 to have the company name and logo painted on paid $13,800 cash on the van (including the sales tax), with the 30, the company paid the due on the van plus the interest On December 31 (the end of the accounting period), Steve's Outdoor recorded depreciation on the van using the straight-line method with an estimated usefull life of 5 years and an estimated residual value of $5,600 References Depreciation (Straight-Line 5.00 points E8-5 Part 1 Required: on the and + or - ) of each trans