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Required Information

$[$The following Information applies to the questlons displayed below.$]$

Tony and Suzle 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 $$12,000.$ They expect to use the Suburban for five years and then sell the

vehicle for $$4,500.$ The following expenditures related to the vehicle were also made on July $1,2025$:

The company pays $$1,800$ to GEICO for a one$-$year Insurance policy.

The company spends an extra $$3,000$ to repaint the vehicle, placing the Great Adventures logo on the front hood,

back, and both sides.

An additional $$2,000$ is spent on a deluxe roof rack and a traller 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 $$400$ for basic vehicle maintenance related to changing the oll,

replacing the windshield wipers, rotating the tires, and inserting a new air filter.

Required:

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 fleld.$)$

Journal entry worksheet

Record the expenditures related to the new vehicle.

Note: Enter debits before credits.