Tony and Suzle see the need for a rugged all-terrain vehicle to transport participants and...

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Accounting

Tony and Suzle see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1,2025, for $13,600. They expect to use the Suburban for five years and then sell the vehicle for $5,300. The following expenditures related to the vehicle were also made on July 1,2025:
The company pays $2,200 to GEICO for a one-year insurance policy.
The company spends an extra $4,600 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides.
An additional $2,400 is spent on a deluxe roof rack and a traller hitch.
The painting, foof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22,2025, the company pays $1,200 for basic vehicle maintenance related to changing the oll, replacing the windshleld Wipers, rotating the tires, and inserting a new alr filter:
Requirement
General
General
Journal
Ledger
Trial Balance
Income
Balance Sheet
Prepare the journal entries for transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)
Journal entry worksheet
\table[[1,2,3,4,5,6]]
Record the expenditures related to the vehicle on July 1,2025. Note: The capitalized cost of the vehicle is recorded in the Equipment account.
Note: Enter debits before credits:
\table[[Date,General Journal,,],[,,,],[,,,],[,,,],[,,,],[,,,]]
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