January 1: Purchased a fleet of vehicles for $350,000 via a loan from the bank. The trucks have a useful life of six years. The loan is for six years with an interest rate of 4.3%. The company already owned $200,000 of vehicles prior to this purchase with an accumulated depreciation of $80,000.

June 30: Book the depreciation for the first half of the year on the vehicles you purchased January 1.

June 30: Book the interest for the first half of the year on the fleet of vehicles you purchased January 1.

April 5: New construction equipment was purchased for the project at the golf course for $120,000. The forklifts have a useful life of seven years. The company already owned $50,000 of construction equipment prior to this purchase with an accumulated depreciation of $22,000.

June 30: Book the depreciation for the first half of the year on the construction equipment you purchased April 5.

May 1: A new long-term lease is entered into for a much larger corporate office which will house the company and its future acquired company. The net present value of the future lease payments is $510,800. The lease is for six years.

June 30: Book the amortization for the first half of the year on the right-of-use leased asset from May 1.