On January 1, 2020, Land's End Construction purchased a used truck for $42,500. A new motor had to be installed to get the truckin good working order, the costs were $16,000 for the motor and $7,000 for the labour. The truck was aiso painted for $5,500. it was ready for use by January 4. A 12 month insurance policy costing $4,100 was purchased to cover the vehicle The driver filed it with $230 of gas before taking it on its first trip. It is estimated that the truck has a five-year useful ife and a residual value of $8,000 Land's End uses the straight-line method to depreciate all of its vehicles. a. Prepare the entry to record the purchase of truck, insurance, and gas. Journal entry worksheet Record the purchase of Truck. Note: tinter debets belore credita