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 Date Transaction January 8. Purchased a used delivery truck for $29,400, paying cash. March 7. Paid garage $230 for changing the oil, replacing the oil filter, and tuning the engine on the delivery truck. December 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 $6,200 for the truck. Year 2 Date Transaction January 9. Purchased a new truck for $53,460, paying cash. February 28. Paid garage $420