Www Outdoor Adventures sees the need for a rugged all-terrain vehicle to transport camping participants and supplies. The company decides to purchase a used Suburban on July 1, 2022, for $14,200. They expect to use the Suburban for five years and then sell the vehicle for $5,600. The following expenditures related to the vehicle were also made on July 1. 2022: The company pays $2,350 to GEICO for a one-year insurance policy. The company spends an extra $5,200 to repaint the vehicle, placing the Outdoor Adventures logo on the front hood, back, and both sides. . An additional $2,550 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Outdoor Adventures. In addition, on October 22, 2022, the company pays $1,500 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. 4. Record the December 31, 2022, adjusting entries for depreciation and the cost of insurance. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 Record the depreciation expense for the vehicle. Note: Enter debits before credits General Journal Date Dec 31, 2022 Debit Credit