The following transactions and adjusting entries were completed by Legacy 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.

Year 1
Jan. 4.	Purchased a used delivery truck for $28,000, paying cash.
Nov. 2.	Paid garage $635 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 a residual value of $4,640 for the truck.
Year 2
Jan. 6.	Purchased a new truck for $49,400, paying cash.
Apr. 1.	Sold the used truck for $15,180. (Record depreciation to date in Year 2 for the truck.)
June 11.	Paid garage $470 for miscellaneous repairs to the truck.
Dec. 31.	Record depreciation for the new truck. It has an estimated residual value of $9,470 and an estimated life of five years.
Year 3
July 1.	Purchased a new truck for $55,400, paying cash.
Oct. 2.	Sold the truck purchased January 6, Year 2, for $17,498. (Record depreciation to date for Year 3 for the truck.)
Dec. 31.	Recorded depreciation on the remaining truck. It has an estimated residual value of $12,955 and an estimated useful life of eight years.