Transactions for foxed asseth, including sale The following transactions and adjusting entries were completed by Robinson Fumiture Co. during a three-year periodi. All are related to the use of delivery equ The double-declining-balance method of depreciotion is used. Year 1 January 8. Purchased a used delivery truck for $24,000, paying cash. March 7. Paid garage $900 for changing the oil, replacing the oll fitter, 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 4 years, with a residual value of $4,000 for the tr Year 2 January 9. Purchased a new truck for $50,000, paying cash. February 28. Paid garage $250 to tune the engine and make other minor repairs on the used truck. April 30. Sold the used truck for $9,500. (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 $12,000 and an estimated IIfe of 8 years. Year 3 September 1. Purchased a new truck for $58,500, paying cash. September 4. Sold the truck purchased January 9, Year 2, for $36,000. (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 $16,000 and an estimated useful life of 10 vears. 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 2 more Check My Work uses remaining