Ivanhoe Company had the following two transactions related to its delivery truck. 1. Paid $58 for an oil change. 2. Paid $430 to install special shelving units, which increase the operating efficiency of the truck. Prepare Ivanhoe Company's journal entries to record these two transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit 1. Maintenance and Repairs Expense Cash 2.

Ivanhoe Company had the following two transactions related to its delivery truck. 1. Paid $58 for an oil change. 2. Paid $430 to install special shelving units, which increase the operating efficiency of the truck. Prepare Ivanhoe Company's journal entries to record these two transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit 1. Maintenance and Repairs Expense Cash 2.

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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