The following transactions, adjusting entries, and closing entries were completed by Legacy Furniture Co. during a three-year period. All are related to the use of delivery equipment. Thedouble-declining-balance methodofdepreciationis used.

2014
Jan. 4.	Purchased a used delivery truck for $28,000, paying cash.
Nov. 2.	Paid garage $675 for miscellaneous repairs to the truck.
Dec. 31.	Recorded depreciation on the truck for the year. The estimated useful life of the truck is four years, with aresidual valueof $5,000 for the truck.
2015
Jan. 6.	Purchased a new truck for $48,000, paying cash.
Apr. 1.	Sold the used truck for $15,000. (Record depreciation to date in 2015 for the truck.)
June 11.	Paid garage $450 for miscellaneous repairs to the truck.
Dec. 31.	Record depreciation for the new truck. It has an estimated residual value of $9,000 and an estimated life of five years.
2016
July 1.	Purchased a new truck for $54,000, paying cash.
Oct. 2.	Sold the truck purchased January 6, 2015, for $16,750. (Record depreciation to date for 2016 for the truck.)
Dec. 31.	Recorded depreciation on the remaining truck. It has an estimated residual value of $12,000 and an estimated useful life of eight years.