Question
Frugal Bakery purchased a large oven on October 31, 2024. Costs related to the acquisition included the following: a.)purchase price of the oven: $32,000; b.)the
Frugal Bakery purchased a large oven on October 31, 2024. Costs related to the acquisition included the following: a.)purchase price of the oven: $32,000; b.)the cost of delivery: $2,000; c.)insurance on the delivery: $200; d.)insurance on the oven for the year: $750; e.)staff safety training to use the oven properly: $1,000 f.)installation: $1,500; g.)damage to the walls during installation that required repair: $400 The company paid cash for the oven and all of the related costs. Required: The credit for each of the items above should be cash. In each case identify the account to be debited.
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