Prepare journal entries to record the following transactions of a company during the current year: (15 points)

Mar 1 Mar 10 June 1 Purchased a truck for $30,000 with a 5-year useful life and a $5,000 salvage value. Also paid 6% sales tax, $350 for the annual truck license, $500 to paint the truck with the company's colors and name, and $1,500 for spare parts. All payments were in cash. Purchased a garage from a neighboring business with a 7%, 4-year, $75,000 note. The seller's book value for the garage was $42,750. The estimated remaining useful life of the garage is 10 years. Paid $1,000 cash to replace (uninsured) garage windows broken during a storm. Purchased used office equipment for $14,700 cash. Sales tax was $825, freight costs $250, and reconditioning costs $900, all of which were paid in cash. The estimated useful life of the equipment is 3 years and salvage value is $500. Purchased store equipment for $24,500 cash. Paid $1,470 in sales tax, $550 for repairs incurred from an accident during installation, $3,200 for a special base to house the equipment, and $2,600 for supplies to be used during periodic preventive maintenance. The estimated useful life of the equipment is 8 years and salvage value is $1,200. Aug 25 Oct 5