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The following transactions and adjusting entries were completed by a paper$-$packaging company called Gravure Graphics International. The company uses straight$-$line depreciation for trucks and other vehicles, double$-$declining$-$balance depreciation for buildings, and straight$-$line amortization for patents.

January $2,2020$ Paid $$95,000$ cash to purchase storage shed components.

January $3,2020$ Paid $$5,000$ cash to have the storage shed erected. The storage shed has an estimated life of $10$ years and a residual value of $$10,000.$

April $1,2020$ Paid $$38,000$ cash to purchase a pickup truck for use in the business. The truck has an estimated useful life of five years and a residual value of $$8,000.$ This vehicle is to be recorded in the Truck account.

May $13,2020$ Paid $$250$ cash for minor repairs to the pickup truck's upholstery.

July $1,2020$ Paid $$20,000$ cash to purchase patent rights on a new paper bag manufacturing process. The patent is estimated to have a remaining useful life of five years.

December $31,2020$ Recorded depreciation and amortization on the pickup truck, storage shed, and patent.

June $30,2021$ Sold the pickup truck for $$33,000$ cash. $($Record the depreciation on the truck prior to recording its disposal.$)$

December $31,2021$ Recorded depreciation on the storage shed. Recorded the patent amortization. After recording the patent amortization, determined that the patent was impaired and wrote off its remaining book value

No Date General Journal Debit Credit

$1.$January $02,2020$

Buildings $95,000$

Cash $95,000$

$2.$January $03,2020$

Buildings $5,000$

Cash $5,000$

$3.$April $01,2020$

$?38,000$

Cash $38,000$

$4.$May $13,2020$

Repairs and Maintenance Expense $250$

Cash $250$

$5.$July $01,2020$

Patents $20,000$

Cash $20,000$

$6.$December $31,2020????$

Depreciation Expense $6,000$

Amortization Expense $4,000$

Accumulated Depreciation$-$Buildings

Accumulated Depreciation$-$Truck $6,000$

Accumulated Amortization $4,000$

$7.$June $30,2021$

Depreciation Expense $?$

Accumulated Depreciation$-$Truck $?$

$8.$June $30,2021$

Cash $?$

Accumul?

Gain on Disposal $?$

$9.$December $31,2021$

Depreciation Expense

Accumulated Depreciation$-$Buildings

$10.$December $31,2021$

Amortization Expense

Accumulated Amortization

$11.$December $31,2021$

Accumulated Amortization

Franchise Rights

$12.$December $31,2021$ Impairment Loss

Patents

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