Your assignment submission must in either Word or Excel and uploaded (one file only) to the assignment drop-box before 11:59pm on March 19. This assignment may be done individually or in pairs. If you are working in pairs then only one copy of the assignment needs to be submitted. Please indicated both student names and student numbers in the file name. The year-end is December 31 for all questions. Assume depreciation is calculated ANNUALLY and not MONTHLY Question 1 On January 1, 2018 a Silver Mining Corp purchased a large mining truck for $754,500. The manufacturer advertise that the trucks normally will last for 10 years. Sliver plans on using the truck for only 4 years, after which they will likely be sold for scrap $5,000. During the year, the following transactions also occurred: O January 1, 2018: Paid $15,000 to have the truck delivered to the mining site, January 1, 2018: paid $9,000 in import duties. January 1, 2018: Paid $1,500 to have company logo painted on side of the truck. January 1, 2018: Paid $4,500 to have extra safety lights installed. January 1, 2018: Paid $2,000 for repairs to the truck, and $10,000 in repairs to a building. The cause of the damage was driver error. (The driver confused reverse and forward) Required: Show all of the journal entries for 2018, including depreciation expense. Question 2 On January 1, 2020, Silver Mining purchased a red truck. The truck cost $1,000,000 and was straight-line depreciated over 5 years with no expected salvage value. On June 30, Silver traded-in the red truck for a new blue truck. The terms of the trade-in were as follows: Silver traded in the red truck (that was purchased on Jan 1 2020) along with $123,000. Silver acquired a new blue truck. The sticker price of the new truck is $850,000 The new Blue truck will be straight-line depreciated over 3.5 years with no expected salvage value. Required: Show all of the journal entries for 2020, (including all entries for depreciation expense)