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Required information PA9-3 (Algo) Analyzing and Recording Long-Lived Asset Transactions with Partial-Year Depreciation (LO 9-2, LO 9-3, LO 9-6) (The following information applies to the questions displayed below) Precision Construction entered into the following transactions during a recent year. January 2 Purchased a bulldozer for $288,000 by paying $39,000 cash and signing a $249,888 note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $39,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency. January 30 Wrote a check for the attount owed on account for the work completed on January 3. February 1 Repaired the leather seat on the bulldozer and wrote a check for the full $2,700 cost. March 1 Paid $15,000 cash for the rights to use computer software for a two-year period. PA9-3 (Algo) Part 1-5 to 3 1-b. Prepare the journal entries for each of the above transactions 2. For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization, if any, that Precision Construction should report for the quarter ended March 31. The equipment is depreciated using the double-declining balance method with a useful life of five years and $59,000 residual value. The licensing right is amortized using the straight line method with a useful life of two years and no residual value 3. Prepare a journal entry to record he depreciation and amortization, if any, calculated in requirement 2 Complete this question by entering your answers in the tabs below. Journal entry worksheet 1. 2 3 4 5 Purchased a bulldozer for $288,000 by paying $39,000 cash and signing a $249,000 note due in five years. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Date January 02 Record entry Clear entry View general journal Journal entry worksheet > 1 2 3 4 5 Replaced the steel tracks on the bulldozer at a cost of $39,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency. Record the transaction. Note: Enter debits before credits Date General Journal Debit Credit January 03 Record entry Clear entry View general journal Journal entry worksheet Wrote a check for the amount owed on account for the work completed on January 3. Record the transaction. Note: Enter debits before credits. General Journal Date January 30 Debit Credit Record entry Clear entry View general journal Print Journal entry worksheet Paid $15,000 cash for the rights to use computer software for a two-year period. Record the transaction. Note: Enter debits before credits, Dato General Journal Debit Credit March 01 Record entry Clear entry View general journal Mc 1-b. Prepare the journal entries for each of the above transactions. 2. For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization, if any, that Precision Construction should report for the quarter ended March 31. The equipment is depreciate the double-declining-balance method with a useful life of five years and $59,000 residual value. The licensing right is ama using the straight-line method with a useful life of two years and no residual value. 3. Prepare a journal entry to record he depreciation and amortization, if any, calculated in requirement 2. Book Print Complete this question by entering your answers in the tabs below. Reg 1B Reg 2 Reg 3 For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization, if any, that Precision Construction should report for the quarter ended March 31. The equipment is depreciated using the double declining balance method with a useful life of five years and $45,000 residual value. The licensing right is amortized using the straight-line method with a useful life of two years and no residual value. (Do not round Intermediate calculations.) Show less Partial Year Depreciation Equipment Amortization Licensing Rights (Reg 13 Req3 > MIT RIGTINN RANTINO VAROITA in Required information Reg 1B Reg 2 Reg 3 Prepare a journal entry to record he depreciation and amortization, if any, calculated in requirement 2. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction filet Journal entry worksheet Record the depreciation and amortization expense on the bulldozer and computer software for the quarter ended March 31. Noter Enter debits before credits Date General Journal Debit Credit March 31