Record the following transactions (all paid in cash except on March 24) in the general journal of
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Record the following transactions (all paid in cash except on March 24) in the general journal of Green Company:
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201X Feb. 5 Purchased land for $89,000. The $89,000 included attorney's fees of $6,100. 18 Green Company decided to pave the parking lot for $5,600. Mar. 24 Purchased a building for $90,000, putting down 30% and mortgaging the remainder. Mar. 29 Bought equipment for $32,000. Freight and assembly were an additional $5,000. May 10 Added a new wing for $190,000 to building that was purchased on March 24. June 15 Performed ordinary repair work on equipment purchased March 29, $1,000, to maintain its normal operations. July 1 Bought a truck for $15,500. Oct. 15 Added a hydraulic loader to truck, $2,200. Nov. 30 Truck purchased in July was brought in for grease and oil, $38. Dec. 30 Overhauled truck's motor for $1,400, extending its life by more than 1 year. Dec. 31 Changed tires on truck, $500.
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College Accounting A Practical Approach
ISBN: 9780134729312
14th Edition
Authors: Jeffrey Slater, Mike Deschamps
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