Transactions for Fixed Assets, Including Sale 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 equipment. The double-declining-balance method of depreciation is used. Year 1 Jan. 4 Purchased a used delivery truck for $15,360, paying cash. Nov. 2 Paid garage $230 for miscellaneous repairs to the truck. Dec. Recorded depreciation on the truck for the year. The estimated useful life of the 31 truck is 4 years, with a residual value of $3,200 for the truck. Year 2 Jan. 6 Purchased a new truck for $9,000, paying cash. Apr. 1 June 11 Sold the used truck purchased on January 4 of Year 1 for $6,270. (Record depreciation to date in Year 2 for the truck.) Paid garage $290 for miscellaneous repairs to the truck. Dec. Record depreciation for the new truck. It has an estimated residual value of 31 $1,600 and an estimated life of 5 years. Year 3 July 1 Purchased a new truck for $87,000, paying cash. Oct. 2 Sold the truck purchased January 6, Year 2, for $3,480. (Record depreciation to date for Year 3 for the truck.) Dec. Recorded depreciation on the remaining truck purchased on July 1. It has an 31 estimated residual value of $15,700 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 calculations. Round your final answers to the nearest cent.