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Please help correct the following question. The following transactions and adjusting entries were completed by a pape: a company Gravure Graphics Intemational, The company uses

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The following transactions and adjusting entries were completed by a pape: a company Gravure Graphics Intemational, The company uses straight-line depreciation for trucks and oth is. double-deciling-balance depreciation for bulldings, and straight-4ine amortization for patents. January 2, 2020 Paid 3104,000 cash to purchase storage shed components. January 3, 2020 Paid $2,000 calb to have the storage shed erected. The otorage ehed has an entinated 1 ife of 10 yeara and a residual value of $5,000. April 1, 2020 Paid 550,000 cash to parehase a pickup truck for use in the business. The truck has an estimated useful iffe of five years and a residual valde of $3,000. This vehiole is to bo recorded in the Truek account. May 12, 2020 paid $800 cash for minor repaire to the pickup truck'in upholitery. July 1, 2020 Paid 512,000 cash to purehase patent rights on a ner paper bag tanufacturing process. The patent is estinated to have a remaining useful ilfe of five yeara. December 31, 2020. Necorded depreciation and anortization on the pickup truck, storage shed, and patent. June 30, 2021 Sold the pickup truek for $43,000 eash. (Hecord the depreciation on the truck prior to reeerding ita disposal.) December 31, 2021 Recorded depreciation on the atorage abed. Mecorded the patent anortization. After recording the patent amortiaatiot, determined that the patent was inpaired and wrote off ital romaining book value (1,e+, vrote devn the book value to tero ). 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.)

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