Problem 7-1 Purchase and Depreciate a New Delivery Truck Speedy Delivery Service, Inc. has always rented their delivery truck. Speedy decided to replace the rented delivery truck by purchasing a new truck. The following are the facts for the new truck Speedy just purchased: The following is a partial list of the accounts in Speedy's General Ledger. These are the only accounts you need for this problem. Cash Truck (asset account) Accumulated Depreciation - Truck Depreciation Expense Use the forms on Tab complete this problem. in the Excel workbook Chapter 07c - Problem 7.1 to 7.8 Forms to Requirement 1 Prepare the General Journal entry to record the purchase of the new delivery truck on March 1, 2023. Requirement 2 Calculate the amount of monthly depreciation for the new truck. Requirement 3 Prepare the March 31 General Joumal adjusting entry to record depreciation for the month. The following is a partial list of the accounts in Speedy's General Ledger. These are the only accounts you need for this problem. D Cash D. Truck (asset account) D Accumulated Depreciation - Truck Depreciation Expense Use the forms on Tab 7-1 in the Excel workbook Chapter 07c. Problem 7-1 to 7-8 Forms to complete this problem. Requirement 1 Prepare the General Journal entry to record the purchase of the new delivery truck on March 1, 2023. Requirement 2 Calculate the amount of monthly depreciation for the new truck. Requirement 3 Prepare the March 31 General Joumal adjusting entry to record depreciation for the month. Requirement 4 What would be the balance in the Accumulated Depreciation-Truck account after the 18th month's depreciation adjusting entry has been made? Requirement 5 If Speedy had estimated that the life of the truck was 4 years, what would have been the amount of monthly depreciation