Do Homework - HW Ch 3 mathxl.com/Student/Player Homework.aspx?homeworkid=590426489&questionid=3&flushed true&cid=6402429¢erwinnyes ACCT 2300 Huston - Financial Accounting Spring 2021 Online Sergio Saenza 02/13/21 8:08 PM Homework: HW Ch 3 Save Score: 0 of 1 pt 3 of 10 (7 complete) HW Score: 59.83%, 5.98 of 10 pts S3-8 (similar to) Question Help Suppose that on January 1 Warnock Travel Company paid cash of $90,000 for equipment that is expected to remain useful for two years. At the end of two years, the equipment's value is expected to be zero. Read the suirements 1. Make joumal entries to record (a) purchase of the equipment on January 1 and (b) annual depreciation on December 31, Include dates and explanations, and use the following accounts: Equipment Accumulated Depreciation-Equipment, and Depreciation Expense-Equipment. 1a. Record the purchase of the equipment. (Record debits first, then credits. Select the explanation on the last line of the journal entry table) Journal Entry Date Accounts and Explanation Debit Credit Jan Choose from any list or enter any number in the input fields and then click Check Answer. at purchase of the equipment on January 1 and (b) annual depreciation on December 31. Includ ccumulated Depreciation Equipment; and Depreciation Expense-Equipment. i Requirements 1. Make journal entries to record (a) the purchase of the equipment on January 1 and (b) annual depreciation on December 31. Include dates and explanations, and use the following accounts: Equipment; Accumulated Depreciation Equipment; and Depreciation Expense-Equipment. 2. Post to the accounts and show their balances at December 31. 3. What is the equipment's book value at December 31? Print Done journal entries to record (a) purchase of the equipment on January 1 and (b) annual depre wing accounts: Equipment, Accumulated Depreciation-Equipment; and Depreciation Exp ord the purchase of the equipment. (Record debits first, then credits. Select the explanation Journal Entry Date Accounts and Explanation Debit Accounts Payable Accounts Receivable Accumulated Depreciation-Building Accumulated Depreciation Computer Equipment Cash Depreciation Expense-Building Depreciation Expense-Computer Equipment Equipment and then click Chack