NeverLate Ltd$.$ completed the following transactions involving delivery trucks:

$2020$

Mar. $26$ Paid cash for a new delivery truck, $$86,500$ plus $$1,900$ of freight costs. The truck was estimated to have a five$-$year

life and a $$10,000$ trade$-$in value.

Dec. $31$ Recorded straight$-$line depreciation on the truck to the nearest whole month.

$2021$

Dec. $31$ Recorded straight$-$line depreciation on the truck to the nearest whole month. However, due to new information obtained

early in January, the original estimated useful life of the truck was changed from five years to four years, and the

original estimated trade$-$in value was increased to $$14,500.$

Required:

Prepare journal entries to record the transactions. $($Do not round intermediate calculations.$)$