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[The following information apples to the questions displayed below) Precision Construction entered into the following transactions during a recent year January 2 Purchased bulldozer for

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[The following information apples to the questions displayed below) Precision Construction entered into the following transactions during a recent year January 2 Purchased bulldozer for $286,000 by paying $38,000 cash and Sling 41,000 note due in five years. January Replaced the steel tracks on the bulldozer at a cost of $30,000, purchased on account. The new steel tracks are the bulldozer's operatie ficiency Barry so wrote a check for the amount owed on account for the work completed on January 3. February 1 Wepatred the leather seat on the bulldoser and wrote a check for the full 32,6 cost. March 1 Paid $14,400 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 2. For the tangible 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 of five years and 558.000 residuar value 3. Prepare a jouma entry to record the depreciation and amortization calculated in requirement 2 Journal entry worksheet 1 2 3 4 5 > Purchased a bulldozer for $286,000 by paying $38,000 cash and signing a $248,000 note due in five years. Record the transaction. Note: Enter debits before credits. General Journal Debit Credit Date January 02 Record entry Clear entry View general journal Journal entry worksheet 1 2 3 4 5 Replaced the steel tracks on the bulldozer at a cost of $38,000, purchased on account. Record the transaction. Note: Enter debits before credits. Date General Journal Debit Credit January 03 Record entry Clear entry View general Journal Journal entry worksheet 2. 2 3 4 5 Wrote a check for the amount owed on account for the work completed on January 3. Record the transaction. Note: Enter debits before credits Date General Journal Debit Credit January 30 Record entry Clear entry Vew general Journal Journal entry worksheet Paid $14,400 cash for the rights to use computer software for a two-year period. Record the transaction. Note: Enter debits before credits. General Journal Debit Date March 01 Credit Record entry Clear entry View general journal For the tangible 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 of five years and $58,000 residual value. (Do not round Intermediate calculations.) Partial Year Depreciation Equipment Amortization Licensing Rights Prepare a journal entry to record the depreciation and amortization calculated in requirement 2. (If no entry is required for a transaction/event, select "No Journal Entry Required in the first account field.) View transaction list Journal entry worksheet

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