Continuing Problem Chapters 7-12 instructions I help Questlons 1-3 (of 10) Save & ExitSubmit The following information applies to the questions displayed belowwj Tony and Suzie see the need for a rugged al-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban. The cost of the Suburban is $16,00o0. The vehicle is purchased in late June and will be put into use on July 1, 2019. Annual insurance from GEICO runs $2,300 per year. The paint is starting to fade, so they spend an extra $4,000 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $3,000 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle tor Great Adventures. They expect to use the Suburban for five years and then sell the vehicle for $5,500. Required information 10.00 points Required: 1. Determine the amount that should be recorded for the new vehicle. t to be recorded References Difficulty: 3 Hard Worksheet 2 velue: 10.00 points Required Information 3. Prepare a depreclation schedule using the straight-line method. GREAT ADVENTURES End of Year Amounts Accumulated Book Value Depreclation Year Total References Difficulty: 3 Hard Worksheet 3. 1000 points Required informetion 4. Record the sale of the vehicle two years later on July 1, 2021, for $13,000. (f no entry is required for a transactionlevent, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the sale of equipment. Nate: Enter debits before credits General Journal DebitCredit Date July 01, 2021 Record entry Clear entry View general journal