Question
Cedar Fair purchased a new ride for $26,000,000, less a $1,000,000 discount. Cedar Fair paid $125,000 for transportation and $625,000 for installation of the ride.
Cedar Fair purchased a new ride for $26,000,000, less a $1,000,000 discount. Cedar Fair paid $125,000 for transportation and $625,000 for installation of the ride.
Prepare the journal entry for the acquisition assuming Cedar Fair signed a note payable for the new roller coaster and paid cash for the transportation and installation costs.
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Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
4th Edition
0470534788, 978-0470534786
