RWP7-1 (Algo) Great Adventures Continuing Case [The following information applies to the questions 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 $13,600. They expect to use the Suburban for five years and then sell the vehicle for $5,300. The following expenditures related to the vehicle were also made on July 1,2025 : - The company pays $2,200 to GElCO for a one-year insurance pollicy. - The company spends an extra $4,600 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. - An additional $2,400 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 Great Adventures. in addition, on October 22,2025 , the company pays $1,200 for basic vehicle maintenance related to changing the oll, replacing the windshield wipers, rotating the tires, and inserting a new air filter. RWP7-1 (Algo) Great Adventures Continuing Case Part 1 Requited: 1. 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 field.) RWP7-1 (Algo) Great Adventures Continuing Case [The following information applies to the questions displayed below.] Tony and Suzie 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 $13,600. They expect to use the Suburban for five years and then sell the vehicle for $5,300. The following expenditures related to the vehicle were also made on July 1, 2025: - The company pays $2,200 to GElCO for a one-year insurance policy. - The company spends an extra $4,600 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. - An additional $2,400 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 $1,200 for basic vehicle maintenance related to changing the oll, replacing the windshield wipers, rotating the tires. and inserting a new air filter. RWP7-1 (Algo) Great Adventures Continuing Case Part 2 2. Record the expenditure related to vehicle maintenance on October 22, 2025. (If no entry is required for a transaction/event, select "No Journal Entry Required" In the first account field.) Journal entry worksheet Record the expenditure related to vehicle malitenance. 3. Prepare a depreciation schedule using the straight-line method. Journal entry worksheet Record the depreciation expense for the vehicle. Note: Enter debits before credits. Journal entry worksheet Record the expiration of prepaid insurance. Note: Enter debits before credits. 5. Record the sale of the vehicle two years later on July 1, 2027, for $11,600. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet