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account. 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 $100,000 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 $8,000. April 1, 2020 Paid $46,000 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 $6,000. This vehicle is to be recorded in the Truck May 13, 2020 Paid $400 cash for minor repairs to the pickup truck's upholstery. July 1, 2020 Paid $15,000 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 plekup truck for $39,000 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 of its remaining book value (i.e., wrote down the book value to zero). Required: Prepare the journal entries required on each of the above dates. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field. Do not round intermediate calculations.) No General Journal Credi Date January 02, 2020 Buildings Cash Debit 100,000 1 100,000 2 2 5,000 January 03, 2020 Buildings Cash 5.000 3 April 01, 2020 46,000 Truck Cash 46.000 400 4 May 13, 2020 Repairs and Maintenance Expense Cash 400 2 5 July 01, 2020 15,000 Patents Cash 15,000 6 December 31 2020 Accumulated Depreciation-Buildings Accumulated Depreciation-Truck Amortization Expense Depreciation Expense Accumulated Amortization 22,343 7 June 30, 2021 Depreciation Expense Accumulated Depreciation Truck 8 June 30, 2021 Cash Accumulated Depreciation Truck Truck Gain on Disposal of PPE 2 9 December 31, 2021 Depreciation Expense Accumulated Depreciation Building 10 December 31 2021 Amortization Expense Accumulated Amortization 11 December 31, 2021 Accumulated Amortization Patents 12 December 31 2021 Impairment Loss Patents

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