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Jessica Grewal decided to open a food truck business, the Samosa Shack. She encountered the following transactions in managing ther equipment over the first 2

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Jessica Grewal decided to open a food truck business, the Samosa Shack. She encountered the following transactions in managing ther equipment over the first 2 years of her business. Apei1 1, 2021 October 1, 2e21 December 31, 2921 Apri1 1, 2022 Decenber 31, 2922 March 31, 2023 Purchased food truck for $72,060 and paid $7,200 to have a comercial owen installed. Other coits that she incurred are $7,200 for insurance on the truck for the first year, and $9,609 to have the truck painted with her Sanosa Shack logo. Jessica estisates that the truck would last 5 years and have a $12,6ee residual value. The oven is also expected to last 5 years and have is 5990 : residual value. The oven broke down and cost $2,460 to repsir. Recorded the adjusting entry for depreciation and insurance. Replaced all of the tires with al1-season tires for $2,460 and paid another year of insurance for $7,260. Recorded the adjusting entry for depreciation and insurance. Jessica was exhausted from the food truck business, and decided to 80 back to school and sell the Jessica was exhausted from the food truck business, and decided to 80 back to school and sell the food truck to her friend Mark. He paid her $38,690 for the truck and oven, which insluded s600 for the for the oven component. Note: The company calculates depreciation using the straight-line method to the nearest month. Required: Required: Record all the entries for the 2 years that Jessica owned the truck, including the disposal of the truck and oven. Note: The company calculates depreciation using the straight-line method to the nearest month. Required: Record all the entries for the 2 years that Jessica owned the truck, including the disposal of the truck and oven. Note: Enter debits before credits

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