On January 1, 20X1, Alpha Corporation purchased a delivery truck for $50,000 cash. The truck has an estimated useful life of 5 years and a residual value of $5,000. Using the straight-line method, calculate the depreciation expense for the year 20X1.

Additionally, Alpha Corporation made the following transactions during 20X1:

• March 15: Paid $3,000 for truck repairs.
• June 1: Purchased additional truck parts for $5,000.
• September 1: Paid $2,000 for truck maintenance services.

Required:

• Calculate the total depreciation expense for the year 20X1 for the delivery truck.
• Prepare the journal entries to record the truck-related transactions for Alpha Corporation during the year 20X1.