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 $12,000. They expect to use the Suburban for five years and then sell the vehicle for $4.500. The following expenditures related to the vehicle were also made on July 1, 2022. The company pays $1,800 to GEICO for a one-year insurance policy. The company spends an extra $3,000 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides An additional $2,000 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, 2022, the company pays $400 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. General General Requirement Income Journal Ledger Trial Balance Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet General General Income Requirement Trial Balance Balance Sheet Journal Ledger Statement I Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, select "No Journal En in the first account field.) View transaction list Journal entry worksheet Record the expiration of prepaid insurance. Note: Enter debits before credits General Journal Debit Credit Date Dec 31 Record entry Clear entry View general Journal Trial Balance General Ledger Balance Sheet Income Statement General Journal Requirement Prepare the journal entries for transactions. (If no entry is required for a particular transaction/event, in the first account field.) View transaction list Journal entry worksheet >