PLEASE PROVIDE ALL GENERAL JOURNAL ENTRIES

The following transactions and adjusting entries were completed by a paper$-$packaging company called Gravure Graphics International. The company uses straight$-$line depreciation for trucks and other vehicles, double$-$declining$-$balance depreciation for buildings, and straight$-$line amortization for patents.

January $2,2020$ Paid $$184,000$ cash to purchase storage shed components.

January $3,2020$ Paid $$2,000$ cash to have the storage shed erected. The storage shed has an estimated life of $10$ years and a residual value of $$5,000,$

April $1,2020$ Paid $$50,000$ cash to purchase a pickup truck for use in the business. The truck has an estimated useful life of five years and a residual value of $$3,000.$ This vehicle is to be recorded in the Truck account.

May $13,2020$ Paid $$800$ cash for minor repairs to the pickup truck's upholstery.

July $1,2020$ Paid $$11,000$ cash to purchase patent rights on a new paper bag manufacturing process. The patent is estimated to have a remaining useful life of five years.

December $31,2020$ Recorded depreciation and amortization on the pickup truck, storage shed, and patent.

June $30,2021$ Sold the pickup truck for $$43,000$ cash. $($Record the depreciation on the truck prior to recording its disposal.$)$

December $31,2021$ Recorded depreciation on the storage shed. Recorded the patent amortization. After recording the patent amortization, determined that the patent was impaired and wrote off its remaining book value $($i$.$e$.,$ wrote down the book value to zero$).$

Required:

Prepare the joumal 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.$)$

$\backslash$table$[[$No$,$Date General Journal,Debit,Credit,$],[,,$S$,,],[,,,,]]$

View transaction list

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

$6$

$7$

$8$

$12$

Record the purchase of storage shed components for $$104,000.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $02,2020,\frac{?}{\text{b}\text{a}\text{r}}(C),,],[,,,],[,,,],[,,,],[,,,],[\sqrt[\phantom{2}]{4},,5,]]$

e following transactions and adjusting entries were completed by a paper$-$packaging company called Gravure Graphics emational. The company uses straight$-$line depreciation for trucks and other vehicles, double$-$declining$-$balance depreciation for ildings, and straight$-$line amortization for patents.

January $2,2020$ Paid $$104,000$ cash to purchase storage shed components.

January $3,2020$ Paid $$2,000$ cash to have the storage shed erected. The storage shed has an estimated life of $10$ years and a residual value of $$5,000.$

April $1,2020$ Paid $$50,000$ cash to purchase a pickup truck for use in the business. The truck has an estimated useful life of five years and a residual value of $$3,000.$ This vehicle is to be recorded in the Truck account.

May $13,2020$ Paid $$800$ cash for minor repairs to the pickup truck's upholstery.

July $1,2020$ Paid $$11,000$ cash to purchase patent rights on a new paper bag manufacturing process. The patent is estimated to have a remaining useful life of five years.

ecember $31,2020$ Recorded depreciation and amortization on the pickup truck, storage shed, and patent.

June $30,2021$ Sold the pickup truck for $$43,000$ cash. $($Record the depreciation on the truck prior to recording its disposal.$)$

December $31,2021$ Recorded depreciation on the storage shed. Recorded the patent amortization. After recording the patent amortization, determined that the patent was impaired and wrote off its remaining book value $($i$.$e$.,$ wrote down the book value to zero$).$

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.$)$

Journal entry worksheet

$1$

$2$

$3$

$4$

$5$

$6$

$7$

$8$

$(...12$

Record the purchase of storage shed components for $$104,000.$

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $02,2020,,,],[,,,],[,,,],[,,,],[,,,]]$

$$