Instructions Chart of Accounts General Journal nstructions Year 1 Jan. 4 Nov. 2. Dec. 31 Year 2 Purchased a used delivery truck for $32,000, paying cash. Paid garage $950 for miscellaneous repairs to the truck. Recorded depreciation on the truck for the year. The estimated useful life of the truck is 4 years, with a residual value of $2,000 for the truck Jan. 6. Purchased a new truck for $80,000, paying cash. Apr. 1. June 11. Dec. 31. Year 3 July 1 Oct. 2. Dec. 31. Sold the used truck for $16,000. (Record depreciation to date in Year 2 for the truck.) Required: Paid garage $310 for miscellaneous repairs to the truck. Record depreciation for the new truck. It has an estimated residual value of $7,000 and an estimated life of 5 years. Purchased a new truck for $85,000, paying cash Sold the truck purchased January 6, Year 2, for $18.250. (Record depreciation to date for Year 3 for the truck) Recorded depreciation on the remaining truck. It has an estimated residual value of $6,000 and an estimated useful life of 8 years. Journalize the transactions and the adjusting entries