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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

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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 $15.200. They expect to use the Suburban for five years and then sell the vehicle for $6,100. The following expenditures related to the vehicle were also made on July 1,2025 - The company pays $2,600 to GElCO for a oneyear insurance pollcy. - The company spends an extra $6,200 to repaint the vehicle, placing the Great Acventures logo on the front hood, back, and both sides. - An additional $2,800 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 compamy pays $2,000 for basic vehicle maintenance related to changing the oil, replacing the windshieid wipers, rotating the tires, and inserting a new air filter. Prepare the journal entries for transactions. (if no entry is reguired for a trancaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Record the closing entry for revenue accounts

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