Required Information

RWP$7-1($Algo$)$ Great Adventures Continuing Case

$[$The following information applles to the questions displayed below.$]$

Tony and Suzle see the need for a rugged all$-$terraln vehicle to transport participants and supplles. They decide to

purchase a used Suburban on July $1,2025,$ for $$12,600.$ They expect to use the Suburban for five years and then sell the

vehicle for $$4,800.$ The following expenditures related to the vehicle were also made on July $1,2025$ :

The company pays $$1,950$ to GEICO for a one$-$year Insurance policy.

The company spends an extra $$3,600$ to repalnt the vehicle, placing the Great Adventures logo on the front hood,

back, and both sides.

An additional $$2,150$ is spent on a deluxe roof rack and a traller hiltch.

The palnting, roof 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 $$700$ for basic vehicle malntenance related to changing the oll,

replacing the windshield wipers, rotating the tires, and Inserting a new alr filter.

RWP$7-1($Algo$)$ Great Adventures Continuing Case Part $5$

Required: $$

Record the sale of the vehicle two years later on July $1,2027,$ for $$10,600.($If no entry Is required for a transaction$/$event$,$ select

$"$No Journal Entry Required" In the first account field.$)$

$*$Red text indicates no response was expected in a cell ar a formula$-$based calculation is incorrect; no polints deducted.