Fixed Asset Evaluation and Vision for the Future: Part of Sault Tours guided tour was a tour to Agawa Bay and the superior lake shores. To be able to provide tours and transport customers from and to the Agawa Bay, Sault Tours needed a bus. An old school bus had been purchased May 3, 2021, for $13,000 cash, and it was estimated to have a life of 50,000 kilometres and a salvage value of $1,500. The bus had travelled 18,000 Kms during the summer and fall of 2021 and was stored during the winter. During the summer of 2022, the bus had travelled 8,000 Kms before it was traded in on July 1 for a more fuel-efficient minibus. The new mini-bus, which had a list price of $15,000, was purchased with a trade-on allowance of $7,500 on the old bus and cash for the reminder. It was expected to have a life of 100,000 Kms and a $3,000 salvage value. The new minibus was driven 10,000 Kms over the reminder of the summer and fall of 2022 before being placed in storage for the winter. Post all necessary transactions and adjusting entries for the period between May 1, 2021, to Nov 30, 2022