1) Journalize and 2) Post to Ledger Accounts

Dec 1 The controller purchased a six-month insurance policy on Dec 1 which will cover the hotel till November 30 of the following year. The cost was $750. Dec 2 The hotels bought some new beds to change out a few old ones. The total cost was $30,000 and they are supposed to have a useful life of 6 years with a salvage value of $1,200. This was charged with Superior Furniture. Dec 5 The banquet chef bought some utensils worth $500 from Houston Supplies. He picked up the utensils on his way into work and gave the controller the invoice. The invoice is not due till a month later. As these are small wares, the hotel is going to expense them instead of capitalizing them as an asset