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For each of the following items, select the correct letter to show whether the expenditure should be capitalized (C) or expensed (E). Paid $600 for
For each of the following items, select the correct letter to show whether the expenditure should be capitalized (C) or expensed (E). Paid $600 for ordinary repairs. Paid $16,000 for extraordinary repairs. Paid cash, $200,000, for addition to old building. Paid $250 for routine maintenance. Purchased a machine, $70,000; gave long-term note. Purchased a patent, $45,300 cash. Paid $20,000 for monthly salaries
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