Tory and Suzke see the need for a rugged akerrain vehicle to transport participants and supplies. They decide to purchase a uped Suburban on July 1, 2022 for $12,400. They expect to use the Suburban for five years and then alt vehicle for $4.700. The following expenditures related to the vehicle were also made on July 1, 2022 - The company pays $1900 to GECO for a one year Insurance policy - The company spends an extra $3,400 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides - An additional $2.000 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 $500 for basic vehicle maintenance related to changing the ol, replacing the windshield wipers, rotating the tires, and inserting a new air filter Great Adventures Problem AP7-1 Part 1 Required: 1. Record the expenditures related to the vehicle on July 1 2022. Note: The capitalized cost of the vehicles recorded in the Equipment account of no entry is required for transaction event, select "No Journal Entry Required in the first account field Valmont Journal entry worksheet Beard the expenditures related to the new General Journal