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 January 8: Purchased a used delivery truck for $61,440, paying cash. March 7. Paid garage $180 for changing the oid, 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 8 years, with a fesidual value of $12,900 for the truck. Year 2 January 9. Purchased a new truck for $70,560, paying cash. February 28. Paid garage $320 to tune the engine and make other minor repairs on the used truck. April 30. Sold the used truck for $40,440. (Record depreciation to date in Year 2 for the truck.) December 31. Record depreciation for the new truck. It has an estimated residual value of $12,700 and an estimated Me of 7 years. Year 3 September 1. Purchased a new truck for $86,000, paying cash. September 4, Sold the truck purchased January 9, Year 2, for \$42,900. (Record depreciation to date for Year 3 for the truck.) December 31. Recorded depreciation on the remaining truck. It has an estimated residual value of $15,500 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. April 30 sale Accumulated Deprecation-Delivery Truck Cash Loss on Sale of Delivery Truck Delimery Truck December 31 Depreciation Expense-Delivery Truck Accumulated Depreciation-Delivery Truck v Year 3, September 1 September 4 Depreciation Accumulated Depreciation-Delivery Truck v September 4 sale cash Accumulated Depreciation-Delivery Truck v Delivery Truck Gain on Sale of Delivery Truck December 31 Depreciation Expenset-Delivery Truck * Accumulated Depreciation-Delivery Truck v