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Accounting
2 3.33 points eBook Purchase price Sales tax Freight charges for shipment of equipment Insurance on the equipment for the first year Installation of equipment $ 56,000 3,300 810 1,010 2,100 The equipment, including sales tax, was purchased on open account, with payment due in 30 days. The other expenditures listed above were paid in cash. Required: Prepare the necessary journal entries to record the above expenditures. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Hint View transaction list Print References Journal entry worksheet 2 Record the purchase of equipment. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal >

2 3.33 points eBook Purchase price Sales tax Freight charges for shipment of equipment Insurance on the equipment for the first year Installation of equipment $ 56,000 3,300 810 1,010 2,100 The equipment, including sales tax, was purchased on open account, with payment due in 30 days. The other expenditures listed above were paid in cash. Required: Prepare the necessary journal entries to record the above expenditures. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Hint View transaction list Print References Journal entry worksheet 2 Record the purchase of equipment. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal >

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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2 3.33 points eBook Purchase price Sales tax Freight charges for shipment of equipment Insurance on the equipment for the first year Installation of equipment $ 56,000 3,300 810 1,010 2,100 The equipment, including sales tax, was purchased on open account, with payment due in 30 days. The other expenditures listed above were paid in cash. Required: Prepare the necessary journal entries to record the above expenditures. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Hint View transaction list Print References Journal entry worksheet 2 Record the purchase of equipment. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal >
Transcribed Image Text:2 3.33 points eBook Purchase price Sales tax Freight charges for shipment of equipment Insurance on the equipment for the first year Installation of equipment $ 56,000 3,300 810 1,010 2,100 The equipment, including sales tax, was purchased on open account, with payment due in 30 days. The other expenditures listed above were paid in cash. Required: Prepare the necessary journal entries to record the above expenditures. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Hint View transaction list Print References Journal entry worksheet 2 Record the purchase of equipment. Note: Enter debits before credits. Transaction 1 General Journal Debit Credit Record entry Clear entry View general journal >
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