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The following transactions and adjusting enties were completed by a paper-packaging compary called Gravure Graphics International The company uses straight-iine depreciation for trucks and other

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The following transactions and adjusting enties were completed by a paper-packaging compary called Gravure Graphics International The company uses straight-iine depreciation for trucks and other vehicles, double-declining-balance depreclation for buhidings, and straight-line amortization for patents Jonuary 2, 2020 pasd 1102,000 cash to purchase stormee shed cosponents. Jonuary 3, 2020 Pald 34,000 cash to have the storage shed erected. The storage shed has an estinoted life of 10 years and a residual value of $7, 0oe. five years and o restidual value of \$5,000. This vehicle is to be recorded in the Truek account. Way 13, 2020 paid 5600 cash for minor repairs to the plekup truck's upholstecy. July 1, 2020 Paid \$13,000 cath to purchare patent rights on o ner paper bag manufocturting process. The patent is eptieuted to have a reeaining useful life of flye years: Deceober 31, 2020 Beconded depreciation and anortization on the pickup trick, storoge shed, and potent. June 30, 2021 sold the pickup truck for 341, eso cosh. (Recond the depreciation on the truck prion to recording its disposal.) December 31. 2021 Recorded depreciation on the storsge shed. Recorded the patent mortization. After recording the patent aroptization, deterained that the potent wa depaired and wrote off its reesining book value (1.e., wrote damn the book value to tero). Required: Prepare the journal entries required on each of the above dates. (If no entry is required for a tronsaction/event, select "No Journal Entry Required" in the first occount field, Do not round intermediote colculations.) Journal entry worksheet

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