The following transactions and adjusting entries were completed by a local delivery company called Fast Delivery. The company uses straight-line depreciation for delivery vehicles, double-declining-balance depreciation for buildings, and straight-line amortization for franchise rights 2018 January 2 Paid $175,000 cash to purchase a small varehouse building near the airport. The building has an estimated life of 20 years and a residual value of $i5,000 July 1 Paid $40,000 cash to purchase a delivery van. Thean has an estimated useful life of five years and a residual value of $8,000. r 2 Paid $500 cash to paint a small offiee in the varehouse building. october 13 Paid $150 cash to get the oil changed in the delivery van December1 Paid $90,000 cash to UPS to begin operating Fast Delivery business as a franchise using the nane The UPS December 31 Recorded depreciation and amortization on the 2019 Store. This franchise right expires in five years. delivery van, warehouse building, and franchise right. June 30 Sold the warehouse building for $140,000 cash. (Record the depreciation on the building prior to recording its disposal.) on the tranchise right. Determined that the December 31 Recorded depreciation on the delivery van and amortization franchise right vas not impaired in value. Required: Prepare the journal entries required on each of the a Entry Required" in the first account field. Do not round intermediate calculations.) bove dates. (If no entry is required for a transaction/event, select "No Journal