Recording transactions, and adjustments for tangible and intangible assets

The following transactions and adjusting entries were completed by a paper-packaging company called Gravure Graphics International. The company uses straight-line depreciation for trucks and other vehicles, double-declining-balance depreciation for buildings, and straight-line amortization for patents. January 2, 2020 Paid $100,080 cash to purchase storage shed components. January 3, 2020 Paid $5,000 cash to have the storage shed erected. The storage shed has an estimated 11 ife of 10 years and a residusi value of $8,600. Apri1 1, 2020 Paid $46,000 cash to purchase a pickup truck for use in the business. The truck has an estiested useful 1ife of five yeors and a residual value of $6,060. This vehicle is to be recorded in the Truck account. May 13, 2020 paid $400 cash for minor repairs to the pickup truck's upholstery. July 1, 2020 paid 515,000 cash to purchase patent rights on a new papen bog manufacturing process. The patent is eatinated ta have a remaining useful life of five years. December 31, 2020 Recorded depreciotion and amortization on the plckup truck, storage shed, and patent. June 30, 2021 Sold the pickup truck for 339 , 900 cash. (Hecord the depreciation on the truck prior to recording its dispasal+) December 31, 2021 Recorded depreciotion on the storage shed, Recorded the patent anortizatioo. after recording the gatent amortizotion, determined that the patent was impoired and arote off its renatining book volve (1.e.. wrots doint the book value to zero). Required: Prepare the journal entries required on each of the above dates. (If no entry is required for a transoction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) 1 Record the purchase of storage shed components for $100,000. 2 Record the payment of $5,000 to have the storage shed erected. 3 Record the purchase of a pickup truck for $46,000. 4 Record the repairs of $400 to the pickup truck. 5 Record the purchase of a patent for $15,000 on a new paper bag manufacturing process. 6 Record the depreciation and amortization expense on the pickup truck, storage shed and patent for the year. pickup truck, storage shed and patent for the year. 7 Record the depreciation for the truck up to the date of sale. 8 Record the sale of the truck for $39,000cash. 9 Record the depreciation on the storage shed for the year. 10 Record the Patent Amortization expense for the full year. 11 Record the reversal of the accumulated amortization of patents. 12 Record any impairment loss incurred on the patent