Casting Crown Construction entered into the following transactions during a recent year:

January $2$ Purchased a bulldozer for $$200,000$ by paying $$20,000$ cash and signing a $$180,000$ note.

January $3$ Replaced the steel tracks on the bulldozer at a cost of $$20,000,$ purchased on account.

January $30$ Wrote a cheque for the amount owed on account for the work completed on January $3.$

February $1$ Replaced the seat on the bulldozer and wrote a cheque for the full $$600$ cost$.$

March $1$ Paid $$2,400$ cash for the rights to use computer software for a two$-$year period.

Required:

$1-$a$.$ Analyze the accounting equation effects. $($Enter any decreases to accounts with a minus sign.$)$

$1-$b$.$ Prepare the journal entries for each of the transactions. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field.$)$Casting Crown Construction entered into the following transactions during a recent year:

January $2$ Purchased a bultdozer for $$200,000$ by paying $$20,000$ cash and signing a $$180,000$ note.

January $3$ Replaced the steel tracks on the buldozer at a cost of $$20,000,$ purchased on account.

January $30$ Wrote a cheque for the amount owed on account for the work completed on January $3.$

February $1$ Replaced the seat on the bulldozer and wrote a cheque for the full $$600$ cost$.$

March $1$ Paid $$2,400$ cash for the rights to use computer software for a two$-$year period.

Required:

$1-$a$.$ Analyze the accounting equation effects. $($Enter any decreases to accounts with a minus sign.$)$

$1-$b$.$ Prepare the journal entries for each of the transactions. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry

required" in the first account field.$)$

Journal entry worksheet