On February 14, Garcia Associates Co. paid $2,300 to repair the transmission on one of its delivery vans. In addition, Garcia Associates paid $450 to install a GPS system in its van. Journalize the entries for the transmission and GPS system expenditures.
Answer:
Feb. 14 Accumulated Depreciation—Delivery Van 2,300
Cash 2,300
14 Delivery Van 450
Cash 450