September $1.$ Purchased a new truck for $$83,000,$ paying cash.

September $4.$ Sold the truck purchased January $9,$ Year $2,$ for $$53,600.($Record depreciation to date for Year $3$ for the truck.$)$

December $31.$ Recorded depreciation on the remaining truck. It has an estimated residual value of $$14,900$ and an estimated useful life of $10$ years.

Year $1,$ January $8$

Year $2,$ January $9$

April $30$ Depreciation

Year $3,$ September $1$

September $4$ Sale

September $4$ Sale

Delivery Truck

Gain on Sale of Delivery Truck $$

Accumulated Depreciation$-$Delivery Truck $$Transactions for fixed assets, including sale

The following transactions and adjusting entries were completed by Robinson Furniture Co$.$ during a three$-$year period. All are related to the use of delivery equipment. The double$-$declining$-$balance method of depreciation is used.

Year $1$

Date Transaction

January $8.$ Purchased a used delivery truck for $$77,760,$ paying cash.

March $7.$ Paid garage $$130$ for changing the oil, replacing the oil filter, and tuning the engine on the delivery truck.

December $31.$ Recorded depreciation on the truck for the fiscal year. The estimated useful life of the truck is $9$ years, with a residual value of $$16,300$ for the truck.

Year $2$

Date Transaction

January $9.$ Purchased a new truck for $$88,200,$ paying cash.

February $28.$ Paid garage $$430$ to tune the engine and make other minor repairs on the used truck.

April $30.$ Sold the used truck for $$53,750.($Record depreciation to date in Year $2$ for the truck.$)$

December $31.$ Record depreciation for the new truck. It has an estimated residual value of $$15,900$ and an estimated life of $7$ years.

Year $3$

September $1.$ Purchased a new truck for $$83,000,$ paying cash.

September $4.$ Sold the truck purchased January $9,$ Year $2,$ for $$53,600.($Record depreciation to date for Year $3$ for the truck.$)$

December $31.$ Recorded depreciation on the remaining truck. It has an estimated residual value of $$14,900$ and an estimated useful life of $10$ years.

Required:

Journalize the transactions and the adjusting entries. If an amount box does not require an entry, leave it blank. Do not round intermediate calculations. Round your final answers to the nearest cent.