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The following transactions and adjusting entries were completed by Legacy Fumiture Ca during a three-year period. All are related to the use of delivery equipment.

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The following transactions and adjusting entries were completed by Legacy Fumiture Ca during a three-year period. All are related to the use of delivery equipment. The double-dedining balance method of depreciation is used. Year 1 Jan. 4 Nav. 2 Purchased a used delivery truck for $29,200, paying cash. Paid garage S650 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 $4.505 for the truck. Dec. 31 Year 2 Jan. 6 Apr. 1 Purchased a new truck for $49.900, paying cash. Sold the used truck purchased on January 4 of Year 1 for $15.710. (Record depreciation to date in Year 2 for the truck.) Paid garage S495 for miscellaneous repairs to the truck. Recorded depreciation for the new truck. It has arrestimated resistum value of S8,790 and an estimated life of five years June 11 Dec. 31 Year 3 July 1 Oct. 2 Purchased a new truck for $55,320, paying cash, Sold the truck purchased January 6, Year 2 for $17,708. (Record depreciation to diste for Year 3 for the truck Recorded depreciation on the mornining truck purchased on July 1 It has an entented rostat value of $11.715 and an estimated useful life of eight years. Dec. 31 Required Journalize the transactions and the adjusting entries. Refer to the chart of accounts for the exact woroing of the accountines CNOW Journais do not use ines for journal explanations Every Nne on a journal page is used for debitor credit entries. ONOW ournais wa automatica dent a credit entry when a creat amount is entered

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