Transactions for Fixed Assets, Including Sale The following transactions and adjusting entries were completed by Legacy Fumiture Co. during a three-year period. All are related to the use of delivery equipment. The double-decining-balance method of depreciation is used. Year 1 1an. 4 Purchased a used delivery truck for $9,600, poying cash. Nov. 2 Paid garage $150 for miscellaneous repairs to the truck. Dec. 31 Recorded depreciation on the truck for the year. The estimated useful life of the truck is 4 years, with a residual value of $2,000 for the truck. Year 2 Jan. 6 Purchased a new truck for 56,000 , paying cash. Apr. 1 Sold the used truck purchased on Jan. 4 of Year 1 for \$3,900. (Record depreciation to date in Year 2 for the truck.) June 11 Paid garage $320 for miscellaneous repairs to the truck. Dec. 31 Record depreciation for the new truck, It has an estimated residual value of $1,100 and an estimated life of 5 years. Year 3 July 1 Purchased a new treck for 593,000 , paying cash. Oct. 2 Sold the truck purchased January 6 , Year 2, for 52,320 . (Record depreciation to date for Year 3 for the truck.) Dec, 31 Recorded depreciation on the remaining truck purchased on July 1. It has an estimated residual value of $16,700 and an estimated useful life of eight 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 caleulations. Round your final answers to the nearest cent. Year 1 Jan. 4