Required information [The following information applies to the questions displayed below.) Outdoor Adventures sees the need for a rugged all-terrain vehicle to transport camping participants and supplies. The company decides to purchase a used Suburban on July 1, 2022, for $16,000. They expect to use the Suburban for five years and then sell the vehicle for $6,500. The following expenditures related to the vehicle were also made on July 1. 2022: The company pays $2,800 to GEICO for a one-year insurance policy The company spends an extra $7,000 to repaint the vehicle, placing the Outdoor Adventures logo on the front hood, back, and both sides An additional $3,000 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 Outdoor Adventures, in addition, on October 22, 2022, the company pays $2,400 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter a Required: 1. Record the expenditures related to the vehicle on July 1, 2022. 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.) General Journal Dobit Credit View transaction list View journal entry worksheet NO Dato Jul 01, 2022 Equipment Prepaid Insurance Cash 1 2. Record the expenditure related to vehicle maintenance on October 22, 2022. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list View Journal entry worksheet No Date General Journal Oct 22, 2022 Repairs and Maintenance Expense Cash Debit Credit 3. Prepare a depreciation schedule using the straight-line method. GREAT ADVENTURES End of Year Amounts Depreciation Accumulated Expense Depreciation Year Book Value 2022 2023 2024 2025 2026 2027 Total $ 0 4. Record the December 31, 2022, adjusting entries for depreciation and the cost of insurance. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Credit Debit View transaction list View journal entry worksheet Date General Journal Dec 31, 2022 Depreciation Expense Accumulated Depreciation No 1 > 2 Dec 31, 2022 Insurance Expense Prepaid Insurance