Please assist with the entry of journal entries :)

1. On March 1, RCIs hauling van broke down. It was determined that it was too costly to repair so RCI sold it to a salvage yard for $3,000 cash. The van was originally purchased in at the beginning of April 2012 at a cost of $45,000 with an estimated 10-year useful life and a $5,000 salvage value. The van had been depreciated using the double declining balance method. The depreciation for the 2021 fiscal year has not yet been recorded.

2. March 1 - RCI immediately purchased a slightly used van for $54,000 cash. It is expected that the new van will have an 8-year useful life and a salvage value of $6,000. Similar to the old van, the new van will be depreciated using the double declining balance method and partial years depreciation.

3. March 13 Paid bi-weekly payroll of $9,200 gross pay for the 10 working days. CPP was $460; EI was $130 and Payroll Taxes Withheld was $1850.

4. . March 17 RCI signed a shredding contract with a new client, Brentwood Industries. The contract will run from April 1, 2021 to March 31, 2022 at an agreed upon rate of $800 per month.

5. Depreciation on the shredding equipment has not yet been recorded. A new commercial shredder was purchased a year ago on April 1, 2020. It is expected that the new shredder will have the capacity to shred 58,572,800 kilograms of paper over its useful life and have a salvage value of $10,000. The units-of-production method is considered to be the most meaningful method of assessing its consumption. During the 2020-2021 fiscal year the shredder processed 7,321,600 kg of paper.

6. The office furniture was purchased on September 1, 2019 at a cost of 26,400. The estimated life of the office furniture is 8 years. It was decided to depreciate the furniture using the straight-line method and a salvage value of $2,500. The depreciation for the March 2021 fiscal year-end has not yet been recorded.

7. RCI uses the aging method for estimating bad debts for the year. The accounts receivable balance is to be aged as follows: (1) $96,000 @ 1-30 days old 2.5% uncollectible, (2) $46,200 @ 31-90 days old 8% uncollectible, (3) $19,000 more than 90 days old 30% uncollectible. These amounts already include any sales returns, allowance and discounts that occurred.

appreciate the help. Mrs