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Benedict Company incurred the following costs. Indicate to which account Benedict would debit each of the costs. No. 1. 2. 3. Transactions Sales tax on factory machinery purchased Painting of and lettering on truck immediately upon purchase Installation and tort machinon $5,000 700 2.000 Account

Benedict Company incurred the following costs. Indicate to which account Benedict would debit each of the costs. No. 1. 2. 3. Transactions Sales tax on factory machinery purchased Painting of and lettering on truck immediately upon purchase Installation and tort machinon $5,000 700 2.000 Account

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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Benedict Company incurred the following costs. Indicate to which account Benedict would debit each of the costs. No. 1. 2. 3. 4. 5. 6. 7. 8. 9. Transactions Sales tax on factory machinery purchased Painting of and lettering on truck immediately upon purchase Installation and testing of factory machinery Real estate broker's commission on land purchased Insurance premium paid for first year's insurance on new truck Cost of landscaping on property purchased Cost of paving parking lot for new building constructed Cost of clearing, draining, and filling land Architect's fees on self-constructed building $5,000 700 2,000 3,500 880 7,200 17,900 13,300 10,000 Account > > > <
Transcribed Image Text:Benedict Company incurred the following costs. Indicate to which account Benedict would debit each of the costs. No. 1. 2. 3. 4. 5. 6. 7. 8. 9. Transactions Sales tax on factory machinery purchased Painting of and lettering on truck immediately upon purchase Installation and testing of factory machinery Real estate broker's commission on land purchased Insurance premium paid for first year's insurance on new truck Cost of landscaping on property purchased Cost of paving parking lot for new building constructed Cost of clearing, draining, and filling land Architect's fees on self-constructed building $5,000 700 2,000 3,500 880 7,200 17,900 13,300 10,000 Account > > > <
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