Instructions Year 1 Jan. 4. Purchased a used selvery truck for $32.000, paying cash Nitn.2. Paid garage $950 for miscelancous tepart to the thick. Dec. 21 Recolded deprociation on the tuci for the year. The esimated useful afe of the truck las 4 years, wath a residualvalue of 32.000 for the truck. Yels 2 Jan. 6. Purchased a now trock tor $60.000 payeng oach Apr, 1. Sold the ssed truck for 516.000. (Ptcoid depreciaton to dake in year 2 for the busk) June 11, Paid garage 3310 for fisscellareous repars to the trick. the of 5 years. Yoma Joly 1 Purchased a new truck fer 3S.000, papirg cash truck.) estimaled utetu ite of a years. Required Noumatize the trantictions and the aqsising entwes. Chart of Accounts CHART OF ACCOUNTS Legacy Furniture Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 112 Accounts Receivable 620 Gain on Sale of Dellivery Truck 114 Interest Receivable 621 Gain on Sale of Equipment 115 Notes Receivable 116 Merchandise inventory EXPENSES 117 Supplies 510 Cost of Merchandise Sold 119 Prepaid insurance 520 Salaries Expense 120 Land 521 Advertising Expense 123 Dellvery Truck 522 Depreciation Expense-Delivery Truck 124 Accumulated Depreciation-Dellivery Truck 523 Delivery Expense 125 Equipment 525 Truck Repair and Maintenance Expense 126 Accumulated Depreciation-Equipment 529 Selling Expenses 130 Mineral Rights 531 Rent Expense 131 Accumulated Depletion 532 Depreciation Expense-Equipment 132 Goodwill 533 Depletion Expense 133 Patents 534 Amortization Expense-Patents Chart of Accounts 120 Land 521 Advertising Expense 123 Delivery Truck 522 Depreclation Expense-Delivery Truck 124 Accumulate 125 Equipment 523 Delivery Expense 525 Truck Repair and Maintenance Expense 126 Accumulated Depreciation-Equipment 529 Selling Expenses 130 Mineral Rights 531 Rent Expense 131 Accumulated Depletion 532 Depreciation Expense-Equipment 132 Goodwill 533 Depletion Expense 133 Patents 534 Amortization Expense-Patents 535 Insurance Expense LIABILITIES 536 Supplies Expense. 210 Accounts Payable 539 Miscellaneous Expense 211 Salaries Payable 710 Interest Expense 213 Sales Tax Payable 720 Loss on Sale of Delivery Truck 214 Interest Payable 721 Loss on Sale of Equipment 215 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends Journalize the transactions and the adjusting entries. Scroll down to access pages 2 and 3 of the journal. General woumal instructloos Journaize the Year 1 transacions and adjusting entries on Page 1 . General Journal PACE? Joumalize the Year 3 transactions and adjusting entries on Page 3 , Journalize the Year 1 transactions and acjivsting entries on Page 1 . All transactions an this page must be entered (except for post ref(s)) before you will receive Check My Work feedback. Joornaize the Year 2 transactions and adjusting enties on Page 2 . All transactions on this poge must be eatered (except for post ref(s)) before you will receive Check My Work fredback. Journaize the Year 3 transactions and acjusting ontries on Page 3 , All transactions on this pase must be entered (except for post ref(s)) before you will receive Check My Work feedback. Irwinuctions Yes 1 Hov, 2 Paid giage 3550 ter mosel tredus repars bo the the2. rta ouarytue of 12,000 for the theie. Teat 2 Jnit 11, Paid garaje 1310 tor disceitintous tepuers to the ruck. ife of 5 yest. Yeat 3 truch. totehawed wieh ife of e yebr. Required: Chart of Accounts CHART OF ACCOUNTS Legacy Furniture Co. General Ledger ASSETS REVENUE 110 Cash 410 Sales 111 Petty Cash 610 Interest Revenue 112 Accounts Receivable 620 Gain on Sale of Delivery Truck 114 Interest Receivable 621 Gain on Sale of Equipment 115 Notes Receivable 116 Merchandise inventory EXPENSES 117 Supplies 510 Cost of Merchandise Sold 119 Prepaid Insurance 520 Salaries Expense 120 Land 521 Advertising Expense 123 Delivery Truck 522 Depreciation Expense-Dellivery Truck 124 Accumulated Depreciation-Delivery Truck 523 Delivery Expense 125 Equipment 525 Truck Repair and Maintenance Expense 126 Accumulated Depreciation-Equipment 529 Selling Expenses 130 Mineral Rights 531 Rent Expense 131 Accumulated Depletion 532 Depreciation Expense-Equipment 132 Goodwill 533 Depletion Expense Chart of Accounts 124 Accumulated Depreciation-Delivery Truck 523 Delivery Expense 125 Equipment 525 Truck Repair and Maintenance Expense 126 Accumulated Depreciation-Equipment 529 Selling Expenses 130 Mineral Rights 531 Rent Expense 131 Accumulated Depletion 532 Depreciation Expense-Equipment 132 Goodwill 533 Depletion Expense 133 Patents 534 Amortization Expense-Patents 535 Insurance Expense LIABILITIES 536 Supplies Expense 210 Accounts Payable 539 Miscellaneous Expense 211 Salaries Payable 710 Interest Expense 213 Sales Tax Payable 720 Loss on Sale of Delivery Truck 214 Interest Payable 721 Loss on Sale of Equipment 215 Notes Payable EQUITY 310 Common Stock 311 Retained Earnings 312 Dividends
