Durham Bike Shop Ltd.'s year end is December 31. Some of the company's transactions are as ...

Durham Bike Shop Ltd.'s year end is December 31. Some of the company's transactions are as follows:

March 1   Paid $190,000 cash to purchase the following assets:

      Market   Est. Useful    Est. Residual
   Asset   Value   Life   Value
   Land   $88,000   -    -
   Building    132,000   25 years   $14,000

   Durham Bike Shop Ltd. plans to use the straight-line amortization
   method for the building.

April 15   Purchased a used pickup truck for $10,500 cash. The truck sells for
   $15,900 when new. The truck is expected to be used for eight years and
   driven 120,000 km. The estimated salvage value is $3,900. It will be
   amortized using the units-of-production method.

April 16   Installed heavy-duty racks costing $1,400 that will enable the truck to
    carry several bicycles.

June 30   Paid John's garage for an oil change ($35) and the replacement of a
   muffler ($425).

Dec. 31   Recorded amortization on the assets. The truck was driven
   9,000 kilometres since it was purchased.

Record the above transactions of Durham Bike Shop Ltd. Round all amounts to the nearest dollar. Explanations are not required.