Required Information [The following information applies to the questions displayed below] Randy's Restaurant Company (RRC) entered into the following transactions during a recent year. April 1 Purchased equipsent (a new walk-in cooler) for \$7, 68e by paying $2,000cash and signing a $5, eee note due in six months. April 2 Enhanced the equipment (by replacing the air-conditioning system in the walk-in cooler) at a cost of $4,890, purchased on account. April 30 wrote a check for the anount owed on account for the work completed on Apri1 2. May 1 A local carpentry company repaired the restaurant's front door, for which arc wrote a check for the full s228 cost. June 1 Paid $11,520 cash for the rights to use the name and store concept created by a different restaurant that has been successful in the region. 1-b. Prepare the joumal 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, If any, that Randy's Restaurant Company should report for the quarter ended June 30 . Equipment is depreciated using the straight-line method with a useful life of five years and no residual value. The RRC franchise right is amortized using the straight-line method with a useful life of four years and no residual value. 3. Prepare a journal entry to record the depreciation and amortization, if any, calculated in requirement 2 . Complete this question by entering your answers in the tabs below. Prepare the journal entries for each of the above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet 5 Record the purchase of a new walk-in cooler for $7,000 paying $2,000 cash and signing a note for the rest. Note Enter debits before creder