last part...(b)

On January 2, 2021, Coronado Corporation purchased a vehicle for $60,000 cash. The company uses straight-line depreciation and estimates that the vehicle will have a five-year useful life. The company has a December 31 year end and adjusts its accounts annually. (a) Prepare the journal entry to record the purchase of the vehicle on January 2. (List all debit entries before credit entries. Credit account titles are automatically intended when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Debit Credi Date Account Titles and Explanation Jan. 2 Prepare the journal entry to record the purchase of the vehicle on January 2. (List all debit entries before credit entries. Credit account titles are automatically intended when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) unt Titles and Explanation Debit Credit icles 60000 ash 60000 e Textbook and Media List of Accounts Attempts: 1 of 15 used (b) Prepare the adjusting entries required on December 31, 2021 and 2022. (List all debit entries before credit entries. Credit account titles are automatically intended when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Debit Credi Date Account Titles and Explanation Dec. 31, 2021 Dec. 31, 2022