Jouimanne t8 Pecord the sale assuming the manager chose the double-declining- balance method. 3. Journalize the entry to record the sale in (2), assuming that the equipment was sold for $88,750 instead of $135,000. Obj. 1, 2, 3 PR 9-5A Transactions for fixed assets, including sale 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 $28,000, paying cash. Nov. 2. Paid garage $675 for miscellaneous repairs to the truck. Dec. 31. Recorded depreciation on the truck for the year. The estimated useful life of the truck is four years, with a residual value of $5,000 for the truck