Transactions for fixed assets, including sale Instructions Chart of Accounts Journal Instructions 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 equipmer double-declining balance method of depreciation is used. Year 1 Jan. 4 Nov. 2 Purchased a used delivery truck for $28,000, paying cash. Paid garage 5635 for miscellaneous repairs to the truck Recorded depreciation on the truck for the year. The estimated useful life of the truck is four years, with a residual value of $4,640 for the truck. Dec. 31