Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $15,800. They expect to use the Suburban for five years and then sell the vehicle for $6,400. The following expenditures related to the vehicle were also made on July 1, 2025:

• The company pays $2,750 to GEICO for a one-year insurance policy.
• The company spends an extra $6,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides.
• An additional $2,950 is spent on a deluxe roof rack and a trailer hitch.

The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $2,300 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter.

Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1,2025, for $15,800. They expect to use the Suburban for five years and then sell the vehicle for $6,400. The following expenditures related to the vehicle were also made on July 1, 2025: - The company pays $2,750 to GEICO for a one-year insurance policy. - The company spends an extra $6,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both Sides. - An additional $2,950 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures, In addition, on October 22,2025 , the company pays $2,300 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Joumal Entry Required" in the first account field.) The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and llability account is reported separately on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No account field.) Journal entry worksheet Record the expenditures related to the vehicle on July 1, 2025. Note: The capitalized cost of the vehicle is recorded in the Equipment account. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journa account field.) Journal entry worksheet 6 Record the expenditure related to vehicle maintenance on October 22, 2025. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry account field.) Journal entry worksheet Record the depreciation for vehicle purchased. Use straight-line depreciation. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Jour account field.) Journal entry worksheet Record the expiration of prepaid insurance. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal E account field.) Journal entry worksheet Record the closing entry for revenue accounts. Note: Enter debits before credits. Journal entry worksheet 2 Record the closing entry for expense accounts. Note: Enter debits before credits. Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1,2025, for $15,800. They expect to use the Suburban for five years and then sell the vehicle for $6,400. The following expenditures related to the vehicle were also made on July 1, 2025: - The company pays $2,750 to GEICO for a one-year insurance policy. - The company spends an extra $6,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both Sides. - An additional $2,950 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures, In addition, on October 22,2025 , the company pays $2,300 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Joumal Entry Required" in the first account field.) The balance sheet is the accounting equation: Assets = Liabilities + Equity. Each asset and llability account is reported separately on the balance sheet. The unadjusted, adjusted, or post-closing balances will appear for each account, based on your selection. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No account field.) Journal entry worksheet Record the expenditures related to the vehicle on July 1, 2025. Note: The capitalized cost of the vehicle is recorded in the Equipment account. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journa account field.) Journal entry worksheet 6 Record the expenditure related to vehicle maintenance on October 22, 2025. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry account field.) Journal entry worksheet Record the depreciation for vehicle purchased. Use straight-line depreciation. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Jour account field.) Journal entry worksheet Record the expiration of prepaid insurance. Note: Enter debits before credits. Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal E account field.) Journal entry worksheet Record the closing entry for revenue accounts. Note: Enter debits before credits. Journal entry worksheet 2 Record the closing entry for expense accounts. Note: Enter debits before credits