Situation 2: Pearl Limited acquired a truck to deliver and install its specialized products at the customer's site. The vehicle's list price was $49,000, but customization added another $11,000 in costs. Pearl took delivery of the truck on September 30, 2017, with a down payment of $5,500, signing a four-year, 8% note for the remainder, payable in equal payments of 515,801 beginning September 30, 2018. Pearl expected the truck to be usable for 500 deliveries and installations. After that, the product's technology would have changed and made the vehicle obsolete. In late July 2020, the truck was destroyed when a concrete garage collapsed. Pearl used the truck for 45 deliveries in 2017, 125 in 2018, 134 in 2019, and 79 in 2020. The company received a cheque for $13,000 from the insurance company and paid what remained on the note. Click here to view the factor table. Prepare all entries that are needed to record the events and activities related to the truck, including the depreciation expense on the truck each year. Assume that Pearl uses an activity approach to depreciate the truck, and bases it on deliveries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round factor values to 5 decimal places, e.g. 5.27515 and final answers to 0 decimal places, e.g. 5,275. Round depreciation rate per delivery to O decimal places, e.g. 15.) 2017: Date Account Titles and Explanation Debit Credit September 30 December 31 (To record interest expense) December 31 (To record depreciation expense) 2018: Date Account Titles and Explanation Debit Credit September 30 December 31 (To record interest expense) December 31 (To record depreciation expense) 2019: Debit Credit Date Account Titles and Explanation September 30 December 31 (To record interest expense) December 31 (To record depreciation expense) 2020: Debit Credit Date Account Titles and Explanation July 31 (To record depreciation expense) July 31 (To record disposal of truck) July 31 (To record interest expense on note payable) Situation 2: Pearl Limited acquired a truck to deliver and install its specialized products at the customer's site. The vehicle's list price was $49,000, but customization added another $11,000 in costs. Pearl took delivery of the truck on September 30, 2017, with a down payment of $5,500, signing a four-year, 8% note for the remainder, payable in equal payments of 515,801 beginning September 30, 2018. Pearl expected the truck to be usable for 500 deliveries and installations. After that, the product's technology would have changed and made the vehicle obsolete. In late July 2020, the truck was destroyed when a concrete garage collapsed. Pearl used the truck for 45 deliveries in 2017, 125 in 2018, 134 in 2019, and 79 in 2020. The company received a cheque for $13,000 from the insurance company and paid what remained on the note. Click here to view the factor table. Prepare all entries that are needed to record the events and activities related to the truck, including the depreciation expense on the truck each year. Assume that Pearl uses an activity approach to depreciate the truck, and bases it on deliveries. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts. Round factor values to 5 decimal places, e.g. 5.27515 and final answers to 0 decimal places, e.g. 5,275. Round depreciation rate per delivery to O decimal places, e.g. 15.) 2017: Date Account Titles and Explanation Debit Credit September 30 December 31 (To record interest expense) December 31 (To record depreciation expense) 2018: Date Account Titles and Explanation Debit Credit September 30 December 31 (To record interest expense) December 31 (To record depreciation expense) 2019: Debit Credit Date Account Titles and Explanation September 30 December 31 (To record interest expense) December 31 (To record depreciation expense) 2020: Debit Credit Date Account Titles and Explanation July 31 (To record depreciation expense) July 31 (To record disposal of truck) July 31 (To record interest expense on note payable)