Required information The following information applies to the questions displayed below] Precision Construction entered into the following transactions during a recent year January 2 Purchased a bulldozer for $288,000 by paying $39,000 cash and signing a $249,000 note due in five years. January 3 Replaced the steel tracks on the bulldozer at a cost of $39,000, 3 purchased on account. The new steel tracks increase the bulldozer's operating efficiency. January 3. full $2,700 cost. year period. 2 January 30 Wrote a check for the amount oved on account for the vork completed on February 1 Repaired the leather seat on the bulldozer and wrote a check tor the Harch 1 Paid $15,000 cash for the rights to use computer software for a two- 1-b. Prepare the journal entries for each of the above transactions 2. For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization that Precision Construction should report for the quarter ended March 31 The equipment is depreciated using the double-declining-balance method with a useful life of five years and $59,000 residual value 3. Prepare a journal entry to record the depreciation and amortization calculated in requirement 2 K Prev 8 of 10 Next Harch 1 Paid $15,000 cash for the rights to use computer softvare for a two- year period. 1-b. Prepare the journal entries for each of the above transactions. 2. For the tangible and intangible assets acquired in the preceding transactions, determine the amount of depreciation and amortization that Precision Construction should report for the quarter ended March 31. The equipment is depreciated using the double-declining-balance method with a useful life of five years and $59,000 residual value 3. Prepare a journal entry to record the depreciation and amortization calculated in requirement 2 Complete this question by entering your answers in the tabs below. Req 18 Req 2 Req 3 Prepare the journal entries for each of the above transactions. (If no entry is required for a transaction/event, select Required" in the first account field.) Journal entry worksheet c equired" in the first account field.) View transaction list Journal entry worksheet 2 3 5 Purchased a bulldozer for $288,000 by paying $39,000 cash and signing a $249,000 note due in five years. Record the transaction. Note: Enter debits before credits Date General Journal ebit Credit January 02 Required information Required" in the first account field.) View transaction list Journal entry worksheet 3 5 Replaced the steel tracks on the bulldozer at a cost of $39,000, purchased on account. Record the transaction. Note: Enter debits before credits Date General Journal Debit Credit January 03 Journal entry worksheet 2 5 Wrote a check for the amount owed on account for the work completed on January 3. Record the transaction. Note: Enter debits before credits Date General Journal Debit Credit January 30 Prev 8 of 10 Next > Required information Required' in the first account field) View transaction list Journal entry worksheet 0 Required information Required" in the first account field.) of 2 View transaction list Journal entry worksheet 031837 Paid $15,000 cash for the rights to use computer software for a two-year period. Record the transaction. Book Print tetences Note: Enter debits before credits Date General Journal Debit Credit March 01