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-declinino-balance method of depredation is used. Year 1 Jan. 4 Purchased a used delivery truck for $15,360, paying 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 $3,200 for the truck Year 2 Jan. Purchased a new truck for $9,000, paying cash Aor, 1 sold the used truck purchased on Jan. 4 of Year 1 for $6,270 (Record depreciation to date in Year 2 for the truck.) June 11 Paid garage $290 for miscellaneous repairs to the truck Dec. 31 Record depreciation for the new truck. It has an estimated residual value of $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 31 Recorded depreciation on the remaining truck purchased on July 1. It has an 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. Year 1 jan. 4 Nov. 2 Dec. 31 Year 2 jan. 6 Apr 1.Deprec JII l l Apr 1 sale akcesignment/take Assignment in doinvokeretakers June 11 Dec. 31 . D D cl [ ] [ll Year 3 July 1 ul. Oct. 2.Deprec Oct 2-Sale 1 1 110 Dec, 31 Check My Work 3 more Check My Wow Uses remaining Previous Next All work saved Emai instructor Save and Ex Submit Assignment for Grading