The following transactions and adjusting entries were completed by a paper$-$packaging company called Gravure Graphics International. The company uses straight$-$line depreciation for trucks and other vehicles, double$-$declining$-$balance depreciation for buildings, and straight$-$line amortization for patents. January $2,2020$Paid $$101,000$ cash to purchase storage shed components.January $3,2020$Paid $$6,000$ cash to have the storage shed erected. The storage shed has an estimated life of $10$ years and a residual value of $$9,000.$April $1,2020$Paid $$47,000$ cash to purchase a pickup truck for use in the business. The truck has an estimated useful life of five years and a residual value of $$7,000.$ This vehicle is to be recorded in the Truck account.May $13,2020$Paid $$500$ cash for minor repairs to the pickup truck's upholstery.July $1,2020$Paid $$14,000$ cash to purchase patent rights on a new paper bag manufacturing process. The patent is estimated to have a remaining useful life of five years.December $31,2020$Recorded depreciation and amortization on the pickup truck, storage shed, and patent. June $30,2021$Sold the pickup truck for $$40,000$ cash. $($Record the depreciation on the truck prior to recording its disposal.$)$December $31,2021$Recorded depreciation on the storage shed. Recorded the patent amortization. After recording the patent amortization, determined that the patent was impaired and wrote off its remaining book value $($i$.$e$.,$ wrote down the book value to zero$).$