Randys restaurant

Question 5 (of 5) 30.00 polnts 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. Paid $178,000 cash to purchase a small warehouse building near the airport. The building has an estimated life of 20 years and a residual value of $3,800 Paid $48.000 cash to purchase a delivery van. The van has an estimated useful life of five years and a residual value of $9,200 Paid $000 cash to paint a smail office in the warehouse building Paid $200 cash to get the oil changed in the delivery van Paid $85,500 cash to UPS to begin operating Fast Delivery business as a franchise using the name The UPS Store. This franchise right expires in five years January 2.2015 July 1.2015 October2. 2015 October 13, 2015 December 1,2015 December 31.2015 Recorded depreciation and amortization on the delivery van, warehouse building June 30. 2018 Sold the warehouse building for S142.000 cash. (Record the depreciation on the December 31. 2018 Recorded depreciation on the delivery van and amortization on the franchise right and franchise right building prior to recording its disposal) Determined that the franchise right was not impaired in vaue Required: Prepare the journal entries required on each of the above transactionievent, select "No Journat Entry Required in the first account fietd. Do not round intermediate cafcuiations. dates. (if no entry is required for a View transaction Est Journal entry worksheet Record the sals of the warehouse building for $142.000 cash. 0