Transactions for Fixed Assets, Including Sale The following transactions and adjusting entries were completed by Robinson Furniture Co. during a three-year period. All are related to the use of delivery equipment. The double- declining-balance method of depreciation is used. Year 1 Jan. Purchased a used delivery truck for $24,000, paying cash. 8 Mar. Paid garage $900 for changing the oil, replacing the oil filter, and tuning the engine on 7. the delivery truck. Dec. Recorded depreciation on the truck for the fiscal year. The estimated useful life of the 31. truck is four years, with a residual value of $4,000 for the truck Year 2. Jan. Purchased a new truck for $50,000, paying cash. 9. Feb. Paid garage $250 to tune the engine and make other minor repairs on the used truck. 28. Apr. Sold the used truck for $9,500. (Record depreciation to date in Year 2 for the truck.) 30. Dec. Record depreciation for the new truck. It has an estimated residual value of $12,000 31 and an estimated life of eight years Year 3 Sept Purchased a new truck for $58,500, paying cash 1 Sept. Sold the truck purchased January 9, Year 2, for $36,000. (Record depreciation to date 4. for Year 3 for the truck.) Dec. Recorded depreciation on the remaining truck. It has an estimated residual value of 31. $16,000 and an estimated useful life of 10 years Required: urnalize the transactions and the adiusting entries. If an amount box does not require an entry, leave it blank. Do not round intermediate calculations Year 1, Jan. 8 Mar. 7 Dec. 31 Year 2, Jan. 9 Feb. 28 Apr. 30 Deprec. Apr. 30 Sale Dec. 31 Year 3, Sept. 1 Sept. 4 Deprec Sept. 4 Sale Dec. 31