Required information RWP7-1 (Algo) Great Adventures Continuing Case 5 [The following information applies to the questions displayed below)] bok int rences Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $14,000. They expect to use the Suburban for five years and then sell the vehicle for $5,500. The following expenditures related to the vehicle were also made on July 1, 2025 The company pays $2,300 to GEICO for a one-year insurance policy The company spends an extra $5,000 to repaint the vehicle, placing the Great Adventures logo on the front hood. back, and both sides. An additional $2,500 is spent on a deluxe roof rack and a trailer hitch The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $1,400 for basic vehicle maintenance related to changing the oil. replacing the windshield wipers, rotating the tires, and inserting a new air filter RWP7-1 (Algo) Great Adventures Continuing Case Part 1 Required: 1. Record the expenditures related to the vehicle on July 1, 2025. Note: The capitalized cost of the vehicle is recorded in the Equipment account. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) 5 Part 1 of 5 Required: 1. Record the expenditures related to the vehicle on July 1, 2025. Note: The capitalized cost of the vehicle is reco Equipment account. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the f View transaction list Journal entry worksheet points eBook Record the expenditures related to the new vehicle. Print References Note: Enter debits before credits. Date July 01, 2025 General Journal Debit Credit Record entry Clear entry View general journal