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need all answers Transactions for Fixed Assets, including Sale The following transactions and adjusting entries were completed by Legacy Furniture Co, during a three-year period.

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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 deliver equipment. The double-dedining-balance method of depreciation is used. Year 1 Jan. 4 Purchased a used delivery truck for $9,600, paying cash. Nov. 2 Paid garage $190 for miscellaneous repairs to the truck, Dec. 31 Recorded depreciation on the truck for the year. The estimated useful life of the truck is 4 years, with a residual value of $2,000 for the truck. Year 2 Jan, 6 Purchase a new truck for $6,000, paying cash. Apr. 1 sold the used truck purchased on Jan. 4 of Year 1 for $3,900. (Record depreciation to date in Year 2 for the truck.) June 11 Paid garage $220 for miscellaneous repairs to the truck, Dec. 31 Record depreciation for the new truck. It has an estimated residual value of $1,100 and an estimated life of 5 years. Year 3 July 1 Purchased a new truck for $89,000, paying cash Oct. 2 Sold the truck purchased January 6 Year 2, for $2.320. (Record depreciation to date for Year 3 for the truck) Dec. 31 Recorded depreciation on the remaining truck purchased on July 1. It has an estimated residual value of $16,000 and an estimated useful life of elght years. Journalize the transactions and the adjusting entries. If an amount box does not require an entry, leave it blank. Do not round intermed Round your final answers to the nearest cent. Year 1 Jan. 4 Delivery Truck 9,600 Cash 9,600 Nov. 2 190 Truck Repair Expense Accumulated Depreciation Delivery Truck 190 Dec. 31 Depreciation Expense Delivery Truck Accumulated Depreciation Delivery Truck 6.000 Year 2 Jan. 6 Delivery Truck Cash 6,000 Apr. 1-Deprec. Depreciation Expense Delivery Truck Accumulated Depreciation Delivery Truck llll lll Apr. 1 Sale Accumulated Depreciation Delivery Truck Cash Loss on Sale of Delivery Truck Delivery Truck June 11 Truck Repair Expense II Cash Dec. 31 Depreciation Expense-Delivery Truck | 101 Accumulated Depreciation-Delivery Truck 89,000 Year 3 July 1 Delivery Truck Cash 89,000 Oct. 2-Deprec. Depreciation Expense-Delivery Truck Accumulated Depreciation-Delivery Truck Oct. 2-Sale Cash Accumulated Depreciation-Delivery Truck Loss on Sale of Delivery Truck Delivery Truck lllll llll Dec. 31 Depreciation Expense-Delivery Truck Accumulated Depreciation Delivery Truck

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