Journalize each of the following transactions: (use correct journal format - no dates) (a) A wing costing $2,345,000 was added to the building. A new mortgage was issued for the (b) cost. Equipment was upgraded to increase its capacity to produce widgets. The upgrade cost of $21,500 was paid in cash. A major overhaul costing $12,000 on a machine increased the useful life by 4 years. The company issued a note for payment...

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 4PA: During the current year, Arkells Inc. made the following expenditures relating to plant machinery. ...
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Journalize each of the following transactions: (use correct journal format - no dates)

(a) A wing costing $2,345,000 was added to the building. A new mortgage was issued for the

(b)

cost.

Equipment was upgraded to increase its capacity to produce widgets. The upgrade cost of $21,500 was paid in cash.

A major overhaul costing $12,000 on a machine increased the useful life by 4 years. The company issued a note for payment...

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