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 $284,000 by paying $37,e00 cash and signing a $247,000 note due in five years. 2 January 3 Replaced the steel tracks on the bulldozer at a cost of $37,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency Danuary 30 Wrote a check for the amount owed on account for the work completed on January 3 February 1 Repaired the leather seat on the bulldozer and wrote a check for the full $2,500 cost. 2 March 1 Paid $13,800 cash for the rights to use computer software for a two-year period 1-b. Prepare the journal entries for each of the above transactions ible 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 o f five years and $57.000 residual value 3. Prepare a journal entry to record the depreclation and amortization calculated in requirement 2 Complete this question by entering your answers in the tabs below