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 San. 8. Purchased a used delivery truck for $47,040, paying cash. Mar. 7. Paid garage $110 for changing the oil, replacing the oil filter, and tuning the engine on the delivery truck, Dec. 31. Recorded depreciation on the truck for the fiscal year. The estimated useful life of the truck is 7 years, with a residual value of $9,000 for the tn Year 2 Jan. 9. Purchased a new truck for $87,480, paying cash. Feb. 28. Paid garage 5310 to tune the engine and make other minor repairs on the used truck. Apr 30. Sold the used truck for $29,050. (Record depreciation to date in Year 2 for the truck.). Dec. 31. Record depreciation for the new truck. It has an estimated trade-in value of $15.700 and an estimated life of 9 years. Year Sept. 1. Purchased a new truck for $78,000, paying cash. Sest. 4. Sold the truck purchased January 9, Year 2. for $50,560. (Record depreciation to date In Year 3 for the truck.) Dec. 31. Recorded depreciation on the remaining truck. It has an estimated residual value of $14,000 and an estimated useful life of 10 years. Required: Journalize the transactions and the adjusting entries. If an amount box does not require an entry, leave it blank. Do not round Intermediate calculations. Round your final answers to the nearest cent. OCCASCO NOAA Year 1, Jan. 8 Mar. 7 Dec. 31 III II III III 3 Year 2, Jan. 9 = Feb. 28 Apr. 30-Deprec. Apr. 30-Sale IN Apr 30-Sale Dec. 31 Year 3, Sept. 1 Sept. 4-Deprec. II III I II II III II Sept. 4-Sale Dec. 31