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PA9.4 (Algo) Recording Transactions and Adjustments for Tangible and Intangible Assets [LO 9-1, LO 9. 2, LO 9-3, LO 9-4, LO 9-5, LO 9.6] The following transactions and adjusting entries were completed by a paper-packaging company called Gravure Graphics International. The company uses straight-line depreciation for trucks and other vehicles, double-declining-balance depreciation for buildings, and straight-line amortization for patents. January 2, 2020 Paid $91,000 cash to purchase storage shed components. restdual value of $5,000. flve years and a restdual value of $3,000. This vehicle is to be recorded in the Truck account. May 13, 2020 Pafd $600 cash for ninor repalrs to the plckup truck's upholstery. have a remoining useful life of five years. Deceaber 31, 2020 Recorded depreciation and anortization on the pickup truck, storage shed, and patent. amortization, determined that the patent was fepalred and wrote off its remaining book value ( i. e., Wrote down the book value to zero). Required: Prepare the journal entries required on each of the above dates. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first occount field. Do not round intermediate calculations.) Journal entry worksheet 1 2 3 7 8 12 Record the depreciation and amortization expense on the pickup truck, storage shed and patent for the year. Note: Enter debits before credits. Journal entry worksheet (1) 2 3 4 5 6 7 Record the depreciation for the truck up to the date of sale. Note: Enter debits before credits. Journal entrv worksheet Journal entry worksheet 1 .... 6 8 Record the depreciation on the storage shed for the year. Note: Enter debits before credits. Journal entry worksheet Record the Patent Amortization expense for the full year. Note: Enter debits before credits. Journal entry worksheet Record the reversal of the accumulated amortization of patents. Note: Enter debits before credits. Journal entry worksheet Note: Enter debits before credits