PB$9-4($Algo$)$ Recording Transactions and Adjustments for Tangible and Intangible Assets $[$LO $9-1,$ LO $92,$ LO $9-3,$ LO $9-4,$ LO $9-5,$ LO $9-6]$

The following transactions and adjusting entries were completed by a local delivery company called Fast Delivery. The company uses straight$-$line depreciation for delivery vehicles, double$-$declining$-$balance depreciation for buildings, and straight$-$line amortization for franchise rights.

January $2,2020$ Paid $$169,000$ cash to purchase a small warehouse building near the airport. The building has an estimated life of $20$ years and a residual value of $$3,400.$

July $1,2020$ Paid $$34,000$ cash to purchase a delivery van. The van has an estimated useful life of five years and a residual value of $$6,800.$

October $2,2020$ Paid $$400$ cash to paint a small office in the warehouse building.

October $13,2020$ Paid $$100$ cash to get the oil changed in the delivery van.

December $1,2020$ Paid $$99,000$ cash to UPS to begin operating Fast Delivery business as a franchise using the name The UPS Store. This franchise right expires in five years.

December $31,2020$ Recorded depreciation and amortization on the delivery van, warehouse building, and franchise right.

June $30,2021$ Sold the warehouse building for $$135,000$ cash. $($Record the depreciation on the building prior to recording its disposal.$)$ December $31,2021$ Recorded depreciation on the delivery van and amortization on the franchise right. Determined that the franchise right was not impaired in value.

Required:

Prepare the journal entries required on each of the above dates. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry Required" in the first account field. Do not round intermediate calculations.$)$