A capital acquisitions manager recently purchased equipment needed to begin production of new inventory. The listed purchase cost of the equipment from a vendor was $70,000. In addition, six other costs related to the equipment were incurred at the time of acquisition and in the first month of operations. These six related costs are displayed in the illustration below.

3. Record the summary entry for the $110,000 of expenditures related to the equipment (Assume all costs were paid in cash. Employee taining is incurred through salary cost).

help me: with the credit!!

General journal

debit: salaries expense 5,500

debit: Maintance expense 1,600

Credit: