Jessica Grewal decided to open a food truck business, the Samosa Shack. She encountered the following transactions in managing her equipment over the first 2 years of her business. April1-1, 2021 October 1,2921 Deceinber 11, 2a21 APr-11, 2022 Decentier 31; 2922 Wreh 51, 2023 Purchased food truck for $69,000 and paid $6,900 to have a coneurcial oven installed, other costs that she incurred are $6,900 for insuraret on the truck for the firat year, and $3,600 to have the truck painted with her Sampsa Shack logo. Jessica estimates that the truck wisld last 5 years and have i $12,000 residual yalue. The oves is also expected to last 5 years and pave a $1,200 residual value. The aven broke doun and cost 51 , s00 to repair llecorifed the adjosting entry foe depreciation and insurance. leplaced all of the tires iath all-seaseo ftres for $2,400 and pald anothen yoar of insurance for 56,900 . Mecerted the adjusting entry for depreciation and insurance. Jesilic was exhausted fcon the food truck business, and decfided to go back to school and selH the food Eruck to her triend Hark. He pwid her.533, teo foe the truck and oven, which Included 51,200 for the oven component. Note: The compank alkilotes deprecialion using the strakght-line method to the nearest manth