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Jessica Grewal decided to open a food truck business, the Samosa Shack. She encountered the folowing transactions in managing her equipment over the frst 2 years of her business April 1, 2015 Purchased food truck for $60,000 and paid $6,000 to have a commercial oven nstalled Other costs that she incurred are $6,000 for insurance the frst year, and $3,000 to have the truck panted with her Samosa Shack logo Jessica estimates that the truck would last 5 years and have a $12,000 residual value The oven is aso expected to last 5 years and have a $1,200 residual value on the truck for October 1, 2015 The oven broke down and cost $1,800 to repar December 31, 2015Recorded the adjusting entry for depreciation and insurance April 1,2010 Replaced all of the bres with all- season tres for $1,800 and paid another year of nsrance for 6,000 December 31, 2016 Recorded the adusing eetry for depreciation, and insurance Jessica was exhausted ftrom the food truck buğness and decided to go back to school and sell the food truck to her friend Mark He pasd her $27,000 for the truck and oven, which included $1.200 for the oven component March 31, 2017 Note: The company calculates depreciation using the straight-äne method to the nearest month Required: Record all the entries for the 2 years that Jessica owned the truck, Including the disposal of the truck and oven, (Ot no entry is required for a transactionlevent, select
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