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Page 9 Problem #4 ( 10 Marks) Below are selected journal entries that were made by Joanna Company: 2. 3. 1. The $60 cost of
Page 9 Problem #4 ( 10 Marks) Below are selected journal entries that were made by Joanna Company: 2. 3. 1. The $60 cost of repairing a printer was debited to Equipment. The $5,000 cost of an engine replacement on a delivery truck was debited to Repairs Expense. The replacement is expected to create a longer useful life for the truck. The $6,000 in legal fees associated with the purchase of Land were debited to Legal Fees Expense. 4. A $600 charge for transportation costs on newly purchased equipment was debited to Delivery Expense. 5. Training costs of $400 paid for workers on a new piece of equipment (prior to use) were debited to Equipment. Instructions: Make a correcting entry (if necessary) for each of the above transactions. If the entry that was made is correct, then state "No correcting entry required." Assume cash was paid for all of the above transactions. (2 marks each) Date Accounts Debit Credit
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