Help Bookmarks Window Edit History View newconnect.mhed ucation.com Semeste roject Worth 30 points ACCT-2010-M50- Fundamentals of Acct Saved Et-Worth 30 points 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, 2022, for $12,800. They expect to use the Suburban for five years and then sell the vehicle for $4,900. The following expenditures related to the vehicle were also made on July 1, 2022 The company pays $2,000 to GEICO for a one-year insurance policy. The company spends an extra $3,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides An additional $2,200 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, 2022, the company pays $800 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter Required: .Record the expenditures related to the vehicle on July 1, 2022. 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 Record the expenditures related to the new vehicle. Note: Enter debits before credits. Date General Journal Debit Credit Jul 01, 2022 Prev of 10 Next > 10 NOV 21 W P View transaction list eBook Journal entry worksheet Print 2 References Record the depreciation expense for the vehicle. Note: Enter debits before credits. Debit Credit General Journal Date Dec 31, 2022 View general journal Clear entry Record entry