Help Save & Exit Submit 4 The following transactions and adjusting entries were completed by a paper packaging company called Gravure Graphics International during 2018 and 2019. The company uses str depreciation for buildings, and straight-line tization for patents 20 2818 anuary , Paid u,a00 cash thave the storageshed erected. The storage shed has an estimated life of le year, and . residual April 1 Paid $48,800 cash to purchase a pickup truck for use in the business. The truck has an est inated useful life of five value of $7,ee0. years and a residual value of $5,eee, May 13 Paid $680 cash for minor repairs to the pickup truck's upholstery uly 1 Paid $13,009 cash to purchase patent rights on a new paper bag sanufacturing process. The patent is estinated to have a resaining useful 1ife of five years December 31 Recorded depreciat ion and amortization on the pickup truck, storage shed, and patent. une 3e Sold the pickup truck for $41,80 cash. (Record the depreciation on the truck prior to recording its disposal. Decesber 31 Recorded depreciation on the storage shed. Also determined that the patent was impaired and wrote off its remaining book value (i.e., wrote don the book value to zero). Prepare the journal entries required on each of the above dates. (If no entry is required for a trensection/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculetions.) Journal entry worksheet K Pre 4of5 Next O Type here to