Instructions The following transactions and adjusting entries were completed by Legacy Furniture Co. during a three-year period. All are related to the use of delivery equipment. The double-declining balance method of depreciation is used Year 1 Jan. 4. Purchased a used delivery truck for $27,200, paying cash Nov. 2 Dec. 31. Year 2 Jan. 6 Apr. 1 June 11 Dec 31. Year 3 July 1 Oct. 2. Dec. 31. Paid garage $630 for miscellaneous repairs to the truck Recorded depreciation on the truck for the year. The estimated useful life of the truck is four years, with a residual value of $5,005 for the truck Purchased a new truck for $49,250, paying cash Sold the used truck for $14,670 (Record depreciation to date in Year 2 for the truck) Paid garage $450 for miscellaneous repairs to the truck Record depreciation for the new truck. It has an estimated residual value of $8.950 and an estimated Ife of five years Purchased a new truck for $53,920, paying cash Sold the truck purchased January 6. Year 2, for $17,125 (Record depreciation to date for Year 3 for the truck) Recorded depreciation on the remaining truck. It has an estimated residual value of $12,945 and an estimated useful life of eight years Journalize the transactions and the adjusting entries. Refer to the Chart of Accounts for exact wording of account titles