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this is all 1 question. i have added the blank journals it wants me to fill in please add dates for the journals The following
this is all 1 question. i have added the blank journals it wants me to fill in please add dates for the journals
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 $26,000, paying cash. Paid garage $825 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 $2,000 for the truck. Year 2 Jan. 6. Apr. 1. June 11 Purchased a new truck for $60,000, paying cash Sold the used truck for $14,000. (Record depreciation to date in Year 2 for the truck) Pald garage 5280 for miscellaneous repairs to the truck, Record depreciation for the new truck. It has an estimated residual value of $7,000 and an estimated life of five years Dec. 31 Year 3 July 1 Oct. 2 Purchased a new truck for $65,000 paying cash. Sold the truck purchased January 6, Year 2, for $19,520 (Record depreciation to date for Year 3 for the truck.) Recorded depreciation on the remaining truck. It has an estimated residual value of $6,000 and an estimated useful life of eight years Dec. 31 JOURNAL Score: 44/76 ACCOUNTING E DESCRIPTION POST. RER CREDIT ASSETS LIABILITI DATE Jan 4 Delivery Truck DEBIT 26,000.00 1 1 Cash 26,000.00 Nov. 2 825.00 Cash 825.00 Adjusting Entries Dec 31 Points Score: 0/150 ACCOUNTING EN JOURNAL ASSETS CREDIT LIABILITA POST. REF DEBIT DATE DESCRIPTION Step by Step Solution
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