Bliesmer Company incurred the following costs Indicate to which account Bliesmer would debit each of the costs Assume a monthly accounting period The following accounts are available in the general ledger Prepaid Insurance GST Clearing Land Buildings Equipment Land Improvements Interest Expense Other Expense Assume the sales tax of5,000 in the first item is GST All of the other figures given, beginning with Cost 2 , are net of GST No Transactions 1 Sales tax on factory machinery purchased $ 5,000 2 Painting of and lettering on truck immediately upon purchase 700 3 Installation and testing of factory machinery 2,000 4 Real estate broker's commission on land purchased 3,500 5 Insurance premium paid for first year's insurance on new truck 1,100 6 Cost of landscaping on property purchased 7,200 7 Cost of paving parking lot for new building constructed 17,900 8 Cost of clearing, draining, and filling land 12,600 9 Architect's fees on self constructed building 10,000 10 30,000 of interest incurred on borrowings to finance the construction of the building, where 2,000 was incurred prior to construction, $24,000 was incurred during the nine month construction period, and 4,000 was incurred after construction was completed

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Posted on Jun 28, 2024

Bliesmer Company incurred the following costs. Indicate to which account Bliesmer would debit each of the costs.

Assume a monthly accounting period.
The following accounts are available in the general ledger: Prepaid Insurance; GST Clearing; Land; Buildings; Equipment; Land Improvements; Interest Expense; Other Expense.
Assume the "sales tax" of5,000 in the first item is GST. All of the other figures given, beginning with Cost 2., are net of GST.

No.	Transactions
1.	Sales tax on factory machinery purchased	$ 5,000
2.	Painting of and lettering on truck immediately upon purchase	700
3.	Installation and testing of factory machinery	2,000
4.	Real estate broker's commission on land purchased	3,500
5.	Insurance premium paid for first year's insurance on new truck	1,100
6.	Cost of landscaping on property purchased	7,200
7.	Cost of paving parking lot for new building constructed	17,900
8.	Cost of clearing, draining, and filling land	12,600
9.	Architect's fees on self-constructed building	10,000
10.	30,000 of interest incurred on borrowings to finance the construction of the building, where 2,000 was incurred prior to construction, $24,000 was incurred during the nine-month construction period, and 4,000 was incurred after construction was completed.