1. The following transactions and adjusting entries were completed by Robinson Furniture Co. during a three-year period. All are related to the use of delivery equipment. The A method of depreciation that provides periodic depreciation expense based on the declining book value of a fixed asset over its estimated life.double-declining-balance method of The systematic periodic transfer of the cost of a fixed asset to an expense account during its expected useful life.depreciation is used.

   Year 1
   Jan. 8	Purchased a used delivery truck for $24,000, paying cash.
   Mar. 7	Paid garage $900 for changing the oil, replacing the oil filter, and tuning the engine on the delivery truck.
   Dec. 31	Recorded depreciation on the truck for the fiscal year. The estimated useful life of the truck is four years, with a residual value of $4,000 for the truck.
   Year 2
   Jan. 9	Purchased a new truck for $50,000, paying cash.
   Feb. 28	Paid garage $250 to tune the engine and make other minor repairs on the used truck.
   Apr. 30	Sold the used truck for $9,500. (Record depreciation to date in Year 2 for the truck.)
   Dec. 31	Record depreciation for the new truck. It has an estimated residual value of $12,000 and an estimated life of eight years.
   Year 3
   Sept. 1	Purchased a new truck for $58,500, paying cash.
   Sept. 4	Sold the truck purchased January 9, Year 2, for $36,000. (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 $16,000 and an estimated useful life of 10 years.

   Required:

   Journalize the transactions and the adjusting entries. If an amount box does not require an entry, leave it blank. Do not round intermediate calculations.

   Year 1 Jan. 8	Accounts Payable Accumulated Depreciation-Delivery Truck Cash Delivery Truck Truck Repair Expense
   	Accounts Payable Accumulated Depreciation-Delivery Truck Cash Delivery Truck Truck Repair Expense
   Mar. 7	Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense Truck Repair Expense
   	Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense Truck Repair Expense
   Dec. 31	Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense-Delivery Truck Truck Repair Expense
   	Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense-Delivery Truck Truck Repair Expense
   Year 2 Jan. 9	Accounts Payable Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense
   	Accounts Payable Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense
   Feb. 28	Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense Truck Repair Expense
   	Accounts Payable Accumulated Depreciation-Delivery Truck Cash Delivery Truck Truck Repair Expense
   Apr. 30 Deprec.	Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense-Delivery Truck Truck Repair Expense
   	Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense-Delivery Truck Truck Repair Expense
   Apr. 30 Sale	Accumulated Depreciation-Delivery Truck Delivery Truck Depreciation Expense-Delivery Truck Gain on Sale of Delivery Truck Truck Repair Expense
   	Accounts Payable Cash Delivery Truck Depreciation Expense-Delivery Truck Truck Repair Expense
   	Accounts Payable Accounts Receivable Depreciation Expense-Delivery Truck Gain on Sale of Delivery Truck Loss on Sale of Delivery Truck
   	Accumulated Depreciation-Delivery Truck Cash Delivery Truck Gain on Sale of Delivery Truck Loss on Sale of Delivery Equipment
   Dec. 31	Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense-Delivery Truck Truck Repair Expense
   	Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense-Delivery Truck Truck Repair Expense
   Year 3 Sept 1	Accounts Payable Accumulated Depreciation-Delivery Truck Cash Delivery Truck Truck Repair Expense
   	Accounts Payable Accumulated Depreciation-Delivery Truck Cash Delivery Truck Truck Repair Expense
   Sept. 4 Deprec.	Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense-Delivery Truck Truck Repair Expense
   	Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense-Delivery Truck Truck Repair Expense
   Sept. 4 Sale	Cash Delivery Truck Depreciation Expense-Delivery Truck Gain on Sale of Delivery Truck Loss on Sale of Delivery Truck
   	Accounts Payable Accumulated Depreciation-Delivery Truck Delivery Truck Depreciation Expense-Delivery Truck Loss on Sale of Delivery Truck
   	Accounts Payable Accumulated Depreciation-Delivery Truck Delivery Truck Depreciation Expense-Delivery Truck Loss on Sale of Delivery Truck
   	Accumulated Depreciation-Delivery Truck Cash Depreciation Expense-Delivery Truck Gain on Sale of Delivery Truck Loss on Sale of Delivery Truck
   Dec. 31	Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense-Delivery Truck Truck Repair Expense
   	Accumulated Depreciation-Delivery Truck Cash Delivery Truck Depreciation Expense-Delivery Truck Truck Repair Expense