transactions for fixed assets including sale

Transactions for Fred Assets, including Sale The following transactions and adjusting entries were completed by Robinson fumiture Co. during a three-year period. Al are related to the use of delivery equipment. The double-dining balance method of depreciation is used Year 1 Jan. 8. Purchased a used delivery truck for $48,500, paying cash Mar. 7. Paid garage $110 for changing the oil, replacing the all ther, and tuning the engine on the delivery truck Dec. 31. Recorded depreciation on the truck for the fiscal year. The estimated setu Ife of the truck is 9 years, with a residual value of $10,200 for the truck Year 2 Jan. 9. Purchased a new truck for $55,850, paying cash. Feb. 28. Paid garage $320 to tune the engine and make other minor repairs on the used truck Apr, 30. Sold the used truck for $33,60(Record depreciation to date in Year 2 for the truck) Dec. 31. Record depredation for the new truck. It has an estimated trade-in value of $10,100 and an estimated life of 7 yeus Year 3 Sept. 1. Purchased a new truck for $94,000, paying cash. Sept. 4. Solid the truck purchased January 9, Year 2 for $34,000. (Record depreciation to date in Year) for the truck.) Dec. 31. Recorded depreciation on the remaining truck. It has an estimated residual value of $16.900 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 to the nearest cent Year 1 an. 8 Mar. 7 | [ Dec. 31 .. Year 2 Jan. 9 Feb. 28 Apr. 30-Deprec. Apr. 30-Sale Dec. 31 Dec. 31 1 Year 3 Sept. 1 Sept. 4-Deprec. Sept. 4-Sale [ 1111 Dec. 31