Required information [The following information applies to the questions displayed below] Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $12,000. They expect to use the Suburban for five years and then sell the vehicle for $4,500. The following expenditures related to the vehicle were also made on July 1, 2025: . The company pays $1,800 to GEICO for a one-year insurance policy. The company spends an extra $3,000 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $2,000 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $400 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. 2. Record the expenditure related to vehicle maintenance on October 22, 2025. (If no entry is required for a transaction/event. select "No Journal Entry Required" in the first account field.)
Required information [The following information applies to the questions displayed below] Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to purchase a used Suburban on July 1, 2025, for $12,000. They expect to use the Suburban for five years and then sell the vehicle for $4,500. The following expenditures related to the vehicle were also made on July 1, 2025: . The company pays $1,800 to GEICO for a one-year insurance policy. The company spends an extra $3,000 to repaint the vehicle, placing the Great Adventures logo on the front hood, back, and both sides. An additional $2,000 is spent on a deluxe roof rack and a trailer hitch. The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In addition, on October 22, 2025, the company pays $400 for basic vehicle maintenance related to changing the oil, replacing the windshield wipers, rotating the tires, and inserting a new air filter. 2. Record the expenditure related to vehicle maintenance on October 22, 2025. (If no entry is required for a transaction/event. select "No Journal Entry Required" in the first account field.)
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:2. Record the expenditure related to vehicle maintenance on October 22, 2025. (If no entry is required for a transaction/event,
select "No Journal Entry Required" in the first account field.)
View transaction list
Journal entry worksheet
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1
Record the expenditure related to vehicle maintenance.
Note: Enter debits before credits.
Date
October 22, 2025
Record entry
General Journal
Clear entry
Debit
Credit
View general Journal
![s
Required information
[The following information applies to the questions displayed below.]
Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to
purchase a used Suburban on July 1, 2025, for $12,000. They expect to use the Suburban for five years and then sell the
vehicle for $4,500. The following expenditures related to the vehicle were also made on July 1, 2025:
• The company pays $1,800 to GEICO for a one-year insurance policy.
• The company spends an extra $3,000 to repaint the vehicle, placing the Great Adventures logo on the front hood,
back, and both sides.
• An additional $2,000 is spent on a deluxe roof rack and a trailer hitch.
The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In
addition, on October 22, 2025, the company pays $400 for basic vehicle maintenance related to changing the oil,
replacing the windshield wipers, rotating the tires, and inserting a new air filter.
2. Record the expenditure related to vehicle maintenance on October 22, 2025. (If no entry is required for a transaction/event,
select "No Journal Entry Required" in the first account field.)
mation et](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fc7fe5a73-45e4-4166-8ba1-50e355550dfc%2Ffaebc094-e190-4d07-8ee6-1be2c9805894%2F7qiw16s_processed.jpeg&w=3840&q=75)
Transcribed Image Text:s
Required information
[The following information applies to the questions displayed below.]
Tony and Suzie see the need for a rugged all-terrain vehicle to transport participants and supplies. They decide to
purchase a used Suburban on July 1, 2025, for $12,000. They expect to use the Suburban for five years and then sell the
vehicle for $4,500. The following expenditures related to the vehicle were also made on July 1, 2025:
• The company pays $1,800 to GEICO for a one-year insurance policy.
• The company spends an extra $3,000 to repaint the vehicle, placing the Great Adventures logo on the front hood,
back, and both sides.
• An additional $2,000 is spent on a deluxe roof rack and a trailer hitch.
The painting, roof rack, and hitch are all expected to increase the future benefits of the vehicle for Great Adventures. In
addition, on October 22, 2025, the company pays $400 for basic vehicle maintenance related to changing the oil,
replacing the windshield wipers, rotating the tires, and inserting a new air filter.
2. Record the expenditure related to vehicle maintenance on October 22, 2025. (If no entry is required for a transaction/event,
select "No Journal Entry Required" in the first account field.)
mation et
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