1 Partially correct answer. Your answer is partially correct. Try again. Branson Ltd owns two delivery vehicles (each with a residual value of $4,000 and useful life of 4 years) and uses the straight-line method of depreciation. The business closes its accounting records annually on 30 June. The following events and transactions occurred during the first 3 financial years. Ignore GST. 201617 July 1 Purchased a delivery truck from Mangrove Mountain Motors for $50,500 cash plus stamp duty of $520, and registration and third-party insurance of $710. June 1 Made minor repairs to the truck for cash at a cost of $350. June 30 Recorded annual depreciation. 201718 July 1 Purchased a delivery van from Northern Motors for cash, $38,000. This van was a used vehicle which was expected to last 4 years from the date of purchase. Fitted four new tyres to the van at a cash cost of $1,110. June 30 Recorded depreciation on both truck and van. 201819 July 1 Paid $3,100 for an overhaul of the motor of the delivery truck. This expenditure is expected to extend the useful life by 1 year. The parts replaced in the truck were considered to have a carrying amount of $2,000. Installed a two-way radio in the delivery van at a cost of $1,300 to improve efficiency. This expenditure will not increase the useful life. June 30 Recorded depreciation on both truck and van. Prepare entries (in general journal form) to record the transactions of Branson Ltd as they relate to both vehicles to 30 June 2019.