Question
Bruce Wayne Company purchased a machine for $30,000. Also associated with this purchase were $1,800 in sales taxes and $4,000 in machine preparation, shipping, and
Bruce Wayne Company purchased a machine for $30,000. Also associated with this purchase were $1,800 in sales taxes and $4,000 in machine preparation, shipping, and installation costs. Bruce Wayne paid a total of $10,000 cash and signed a note payable agreeing to pay the remaining $25,800 in the future.
Which ONE of the following is included in the single journal entry necessary to record this purchase of a machine? Again, assume that all of these data are recorded in a single journal entry.
-DEBIT to Machine for $31,800
-DEBIT to Machine for $30,000
-DEBIT to Machine for $35,800
-DEBIT to Machine for $24,800
-DEBIT to Machine for $21,800
-DEBIT to Machine for $34,000
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