Accounting Help, Please!!?

-The following transactions, adjusting entries, and closing entries were completed by Trail Creek Furniture Co. during a three-year period. All are related to the use of delivery equipment. The double-declining-balance method of depreciation is used.



2008

Jan 6 Purchased a used delivery truck for $24000 Paying cash

Jan 19 Paid garage $500 for miscellaneous repairs to the truck

Dec 31 Recorded depreciation of the truck for the year. The estimated useful life of the truck is four years, with a residual value of the truck of $4000



2009

Jan 2 Purchased a new truck for $69,000 paying cash

Aug 1 Sold the used truck for $10250,(Record depreciation to date 2009 for the truck)

Oct 24 Paid garage $415 for miscellaneous repairs to the truck

Dec 31 Record depreciation of the new truck. The estimated residual value of $15,000 and estimated life of 5 years.



2010

July 1 Purchased a new truck for $70,000, paying cash

Oct 1 Sold the truck purchased jan 2, 2009 for $25,000(record deprecation of the year)

Dec 31 Record depreciation of the remaining truck. It has an estimated residual value of $18,000 and an estimated useful life of 8 years.





Journalize the transactions and the adjusting entries. If an amount box does not require an entry, leave it blank.







I only need help with the October, 2010 entries. I have submitted this assignment once already and have a second chance. Here is what I came up with this time can someone tell me if I am correct or help with the correct answers? Thanks!!!



OCT 1 Depreciation Expense-Delivery Equipment Debit 16560

Accumulated Depreciation-Delivery Equipment Credit 16560

OCT 1 Cash Debit 25000

Accumulated Depreciation-Delivery Equipment Debit 41400

Loss on Sale of Delivery Equipment Debit 2600

Delivery Equipment Credit 69000