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Transactions for Feed Assets, including Sale The following transactions and adjusting entries were completed by Robinson Furniture Co. during a three-year period. All are related to the use of delivery equipment. The double-declining-balance method of depreciation is used. Year 1 Jan Purchased a used delivery truck for $77,760, paying cash 8. Mar. Paid garage $130 for changing the oil, replacing the oil niter, and tuning the engine on the delivery truck. 7 Dec. Recorded depreciation on the truck for the fiscal year. The estimated useful life of the truck is 9 years, with a 31. residual value of $16,300 for the truck Year 2 Jan. Purchased a new truck for $88,200, paying cash. 9. Feb. Paid garage $400 to tune the engine and make other minor repairs on the used truck 28. Apr. Sold the used truck for $53,750. (Record depreciation to date in Year 2 for the truck.) 30. Dec. Record depreciation for the new truck. It has an estimated trade-in value of $15,900 and an estimated life of 7 31. years Year 3 Sept. Purchased a new truck for $94,000, paying cash. 1. Sept. Sold the truck purchased January 9, Year 2, for $53,600. (Record depreciation to date in Year 3 for the truck.) Dec. Recorded depreciation on the remaining truck. It has an estimated residual value of $16,900 and an estimated 31. useful life of 10 years. Required: Journalize the transactions and the adjusting entries. If an amount box does not require an entry, leave a blank. Do not round intermediate calculations. Round your final answers to the nearest cent. Year 1, Jan. 8 Mar. 7 Dec. 31 cpp 13 Year 2, Jan. 9 Feb. 28 Apr. 30-Deprec. Apr. 30-Sale Dec. 31 Year 3, Sept. 1 Sept. 4-Deprec Sept. 4-Sale Dec. 31

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