The following transactions and adjusting entries were completed by Legach Furniture Co. during a three-year period. All are related to the use of delivery equipment. The double-declining-balance method of depreciation is used.

Journalize the transactions and the adjusting entries.

nent/take AssignmentMain.do?invoker=&takeAssignmentSessionLocator=&inprogress=false ransactions for fixed assets, including sale Chart of Accounts Journal Instructions Year 1 Jan. 4. Nov. 2. Dec. 31. Purchased a used delivery truck for $28,400, paying cash. Paid garage $750 for miscellaneous repairs to the truck. Recorded depreciation on the truck for the year. The estimated useful life of the truck is four years, with a residual value of $5,265 for the truck. Year 2 Jan. 6. Apr. 1. June 11. Dec. 31. Purchased a new truck for $49.700, paying cash. Sold the used truck for $15,140 (Record depreciation to date in Year 2 for the truck) Paid garage 5475 for miscellaneous repairs to the truck Record depreciation for the new truck. It has an estimated residual value of 58,795 and an estimated life of five years Year 3 July 1 Oct. 2 Purchased a new truck for $53,240, paying cash Sold the truck purchased January 6. Year 2 for $17 394 (Record depreciation to date for Year 3 for the truck) Recorded depreciation on the remaining truck. It has an estimated residual value of $11,025 and an estimated useful life of eight years Dec. 31