Southwest Milling Co purchased a front-end loader to move stacks of lumber. The loader had a list price of $121,500 The seller agreed to allow a 5.50 percent discount because Southwest Milling paid cash Delivery terms were FOB shipping point Freight cost amounted to $2,540 Southwest Milling had to hire a specialist to calibrate the loader. The specialist's fee was $980. The loader operator is paid an annual salary of $16.770. The cost of the company's theft insurance policy increased by $2,460 per year as a result of acquiring the loader. The loader had a four-year useful life and an expected salvage value of $10,300 Required a. Determine the amount to be capitalized in an asset account for the purchase of the loader (Round your answers to the nearest whole dollar. Amounts to be deducted should be indicated with minus sign.) Costs that are to be capitalized List price Total costs b. Record the purchase in general journal format. (if no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar.) View transaction list Journal entry worksheet B Record purchase equipment for cash. Note: Enter debits before credits Event General Journal Debit Credit Record entry Clear entry View general journal 4.54 points b. Record the purchase in general journal format. (If no entry is required for a transaction/event, select "No journal in the first account field. Round your answers to the nearest whole dollar.) eBook View transaction list Hint Journal entry worksheet Prim B > Record cash paid for freight cost. Note: Enter debts before credits General Journal Event 2 Elebit Credit Record entry Clear entry View general journal ME b. Record the purchase in general journal format. (If no entry is required for a transaction/event, select "No in the first account field. Round your answers to the nearest whole dollar.) View transaction list Hint Journal entry worksheet Print Record cash paid for specialist's fee. Note: Enter debits before credits. Event General Journal Debit Credit 3 Record entry Clear entry general journal