Omni Corp. (OC) maintains a fleet of specialized trucks. OC has an operating policy of taking its trucks out of service and giving them a significant overhaul after every 50,000 km of use.

The overhaul is a requirement for maintaining the companys insurance coverage. It is important to note that the trucks drive the same number of kilometers every month. Truck O7 was purchased for $63,000, the estimated overhaul was $8,000 and so the CFO recorded the cost of the truck as (63,000 8,000) $55,000 and set up the overhaul service as a separate asset of $8,000.

When the truck reached 50,000 km on July 1, 2020, the overhaul was completed for a cost of $9,000 and the new overhaul planned for when the truck reached 100,000. March 1, 2022, the truck was pulled off the road at 92,100 km and given an overhaul. The cost of the overhaul was $11,000 and was paid in cash. The next overhaul was scheduled for when the truck reached 150,000 km.

Required OC has a December 31st year-end and follows IFRS. Prepare the journal entries for 2020, 2021 and 2022 related to the overhaul. Ignore the truck.