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Select the accounts that will be impacted by the following transaction and drag them to the correct section of the accounting equation. Once the T-account
Select the accounts that will be impacted by the following transaction and drag them to the correct section of the accounting equation. Once the T-account appears, choose the date from the drop-down menu, and enter the appropriate amount as debit or credit. You must choose a date and enter an amount on each T-account line shown in order to submit the exercise. If the Submit button is not enabled, make sure you have selected a date for each line in the T- accounts, and make sure there is an amount in the debit or credit column for each line. If there are any unused T-accounts in the accounting equation bucket area, make sure they are dragged back up to the Accounts bucket. Record this Transaction: Tom's Grocery purchased 5 new cash registers for their new store and they paid $2,400 each for a total of $12,000 on August 1, 2013, the day they were delivered. The cash registers are expected to have useful lives of 5 years and they are not expected to have any salvage value. Tom's Grocery uses straight-line depreciation. The cash registers were recorded as long-lived assets at the time of the purchase and now Tom's needs to make an entry showing the expense related to these cash registers up to December 31, 2013.
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