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 Nov. 2 Purchased a used delivery truck for $28,000, paying cash Paid garage $675 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 $5,000 for the truck Dec 31 Year 2 Jan 6 Apr. 1 Purchased a new truck for $48,000, paying cash. Sold the used truck purchased on Jan. 4 of Year 1 for $15,000 (Record depreciation to date in Year 2 for the truck) Paid garage $450 for miscellaneous repairs to the truck Record depreciation for the new truck It has an estimated residual value of $9,000 and an estimated life of five years June 11 Dec 31 Year 3 July 1 Purchased a new truck for $54.000 paying cash Sold the truck nurchased any 6 Year 2 for $16 750 (Record depreciation to date for Year 3 for the Oct 2 Dec. 31 Recorded depreciation on the remaining truck purchased on July 1. It has an estimated residual value of $12,000 and an estimated useful life of eight years. Journalize the transactions and the adjusting entries. Refer to the Chart of Accounts for exact wording of account titles. Chart of Accounts CHART OF ACCOUNTS Legacy Furniture Co. General Ledger 3 ASSETS REVENUE 110 Cash 410 Sales 111 Patty Cash 112 Accounts Receivable 114 Interest Receivable 610 Interest Revenue 620 Gain on Sale of Delivery Truck 621 Gain on Sale of Equipment 115 Notes Receivable 116 Merchandise Inventory EXPENSES 117 Supplies 510 Cost of Merchandise Sold OY 119 Prepaid Insurance 120 Land 123 Delivery Truck 124 Accumulated Depreciation-Delivery Truck 125 Equipment 126 Accumulated Depreciation Equipment 130 Mineral Rights 131 Accumulated Depletion 520 Salaries Expense 521 Advertising Expense 522 Depreciation Expense-Delivery Truck 523 Delivery Expense 525 Truck Repair Expense 529 Selling Expenses 531 Rent Expense 532 Depreciation Expense-Equipment 533 Depletion Expense 534 Amortization Expense-Patents 535 Insurance Expense 536 Supplies Expense 539 Miscellaneous Expense 710 Interest Expense 720 Loss on Sale of Delivery Truck 721 Loss on Sale of Equipment 132 Goodwill 133 Patents LIABILITIES 210 Accounts Payable 211 Salaries Payable 213 Sales Tax Payable 214 Interest Payable 215 Notes Payable EQUITY 310 Owner's Capital 311 Owner's Drawing