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, 2022, for $13,800. They expect to use the Suburban for five years and then sell the vehicle for $5,400. The following expenditures related to the vehicle were also made on July 1, 2022:

• The company pays $2,250 to GEICO for a one-year insurance policy.
• The company spends an extra $4,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides.
• An additional $2,450 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, 2022, the company pays $1,300 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, 2022, for $13,800. They expect to use the Suburban for five years and then sell the vehicle for $5,400. The following expenditures related to the vehicle were also made on July 1, 2022: The company pays $2,250 to GEICO for a one-year insurance policy. The company spends an extra $4,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $2,450 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, 2022, the company pays $1,300 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the expenditures related to the vehicle on July 1, 2022. Note: The capitalized cost of the vehicle is recorded in the Equipment account. Note: Enter debits before credits. Date General Journal Debit Credit Jul 01 Record entry Clear entry View general journal 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, 2022, for $13,800 Thev expect to use the Suburban for five vears and then sell the vehicle for $5,400. The following expenditures related to the How not to take things personally? https://www.youtube.com/watch?v=LnJwH_P... The company pays $2,250 to GEICO for a one-year insurance policy. The company spends an extra $4,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $2,450 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, 2022, the company pays $1,300 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the expenditure related to vehicle maintenance on October 22, 2022. Note: Enter debits before credits. Date General Journal Debit Credit Oct 22 Record entry Clear entry View general journal 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, 2022, for $13,800. They expect to use the Suburban for five years and then sell the vehicle for $5,400. The following expenditures related to the vehicle were also made on July 1, 2022: The company pays $2,250 to GEICO for a one-year insurance policy. The company spends an extra $4,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $2,450 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, 2022, the company pays $1,300 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the depreciation for vehicle purchased. Use straight-line depreciation. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal 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, 2022, for $13,800. They expect to use the Suburban for five years and then sell the vehicle for $5,400. The following expenditures related to the vehicle were also made July 1, 2022: The company pays $2,250 to GEICO for a one-year insurance policy. The company spends an extra $4,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $2,450 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, 2022, the company pays $1,300 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the expiration of prepaid insurance. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal 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, 2022, for $13,800. They expect to use the Suburban for five years and then sell the vehicle for $5,400. The following expenditures related to the vehicle were also made on July 1, 2022: The company pays $2,250 to GEICO for a one-year insurance policy. The company spends an extra $4,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $2,450 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, 2022, the company pays $1,300 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. Income Requirement General Journal General Ledger Trial Balance Balance Sheet Statement Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet Record the closing entry for revenue accounts. Note: Enter debits before credits. Date General Journal Debit Credit Dec 31 Record entry Clear entry View general journal Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a Suburban on July 1, 2022, for $13,800. They expect to use the Suburban for five years and then sell the vehicle for $5,400. The following expenditures related to the vehicle were also made on July 1, 2022: The company pays $2,250 to GEICO for a one-year insurance policy. The company spends an extra $4,800 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and sides. An additional $2,450 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 additio October 22, 2022, the company pays $1,300 for basic vehicle maintenance related to changing the oil, replacing the windshiel wipers, rotating the tires, and inserting a new air filter. Requirement General Journal General Ledger Trial Balance Income Statement Balance Sheet Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required in the account field.) View transaction list Journal entry worksheet Record the closing entry for expense accounts. Note: Enter debits before credits Date General Journal Debit Credit Dec 31