Answer:
Aug. 7 Delivery Truck 1,675
Cash 1,675
7 Repairs and Maintenance Expense 40
Cash 40
PE 10-1A Capital and revenue expenditures
On August 7, Green River Inflatables Co. paid $1,675 to install a hydraulic lift and $40 for an air filter for one of its delivery trucks. Journalize the entries for the new lift and air filter expenditures.
Answer:
Aug. 7 Delivery Truck 1,675
Cash 1,675
7 Repairs and Maintenance Expense 40
Cash 40
Answer:
Aug. 7 Delivery Truck 1,675
Cash 1,675
7 Repairs and Maintenance Expense 40
Cash 40