Question 5 (of 5) value 336 points PB9-4 Recording Transactions and Adjustments for Tangible and Intangible Assets [LO 9-1, LO 9-2, LC The following transactions and adjusting entries were completed by a local delivery company called Fast Delivery The company uses straight-line depreciation for delivery vehicles, double-declining-balance depreciation for buildings, and straight-line amortization for franchise rights January 2. 2015 Paid $182.000 cash to purchase a small warehouse building near the airport The uilding has an estimated life of 20 years and a residual value of $3,300 July1.2015 Paid $50,000 cash to purchase a delivery van The van has an estimated useful life of five years and a residual value of $10,000 October 2, 2015 Paid $300 cash to paint a small office in the warehouse building October13, 2015 Pald $200 cash to get the oil changed in the delivery van December 1.2015 Paid $79.500 cash to UPS to begin operating Fast Delivery business as a franchise December 31, 2015 Recorded depreclation and amortization on the delivery van, warehouse building June 30, 2016 Sold the warehouse building for $146,000 cash. Record the depreciation on the December 31, 2016 Recorded depreciation on the delivery van and amortization on the franchise right. using the name The UPS Store. This franchise right expires in five years and franchise right building prior to recording its disposal) Determined that the franchise right was not impaired in value 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.) View transaction list