Chen Company completed the following transactions and events involving its delivery trucks.
2010
Jan. 1
Paid $20,515 cash plus $1,785 in sales tax for a new delivery truck estimated to have a five-year life and a $2,300 salvage value. Delivery truck costs are recorded in the Trucks account.
Dec. 31 Recorded annual straight-line depreciation on the truck.
2011
Dec. 31
Due to new information obtained earlier in the year, the truck's estimated useful life was changed from five to four years, and the estimated salvage value was increased to $2,550. Recorded annual straight-line depreciation on the truck.
2012
Dec. 31
Recorded annual straight-line depreciation on the truck.
Dec. 31 Sold the truck for $5,500 cash.
Required:
Prepare journal entries to record these transactions and events in the given order.