i ne tollowing transactions and adjusting entries were completed by a paper-packaging company called Gravure Grapnics 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, 2e28 Paid $88,888 cash to purchase storage shed components. January 3, 2020 Paid $4,600 cash to have the storage shed erected. The storage shed has an estimated life of 10 years and a residual value of $7,080. April 1, 2020 Paid $31,000 cash to purchase a pickup truck for use in the business. The truck has an estimated useful life of five years and a residual value of $5,889. This vehicle is to be recorded in the Truck account. May 13, 2028 Paid $380 cash for minor repairs to the pickup truck's upholstery. July 1, 2028 Paid $27,888 cash to purchase patent rights on a new paper bag manufacturing process. The patent is estimated to have a remaining useful life of five years. December 31, 2028 Recorded depreciation and amortization on the pickup truck, storage shed, and patent. June 30, 2e21 Sold the pickup truck for $26,888 cash. (Record the depreciation on the truck prior to recording its disposal.) December 31, 2021 Recorded depreciation on the storage shed. Recorded the patent amortization. After recording the patent amortization, determined that the patent was impaired 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 account field. Do not round Intermediate calculations.) Answer is not complete. General Journal Credit No 1 Date January 02, 2020 Buildings Cash Debit 88,000 88,000 2 4.000 January 03, 2020 Buildings Cash 4,000 3 April 01, 2020 31,000 Truck Cash 31,000 4 May 13.2020 300 Repairs and Maintenance Expense Cash 300 0 0 5 July 01, 2020 27.000 Patents Cash 27,000 6 22.300 2.700 December 31, 202 Depreciation Expense Amortization Expense Accumulated Depreciation-Buildings Accumulated Depreciation-Truck Accumulated Amortization 18.400 3,900 2,700 7 7 June 30, 2021 Depreciation Expense Accumulated Depreciation-Truck OOOOOOOOOO 2.600 2,600 8 June 30, 2021 28.000 6,500 Cash Accumulated Depreciation-Truck Truck Gain on Bond Retirement 31,000 1,500 9 December 31, 202 Impairment Loss X 24.300 x 2.700 Accumulated Amortization Patents 27,000 X 10 December 31, 202 Impairment Loss Patents 3 x 11 December 31, 202 Depreciation Expense X X Patents