The following expenditures relating to plant assets were made by Glenn Company during the first 2 months of 2022.

(b)Indicate the account title to which each expenditure should be debited.

1.Paid $7,000 of accrued taxes at the time the plant site was acquired.

choose an account title

Land ImprovementsLandPrepaid InsuranceLicense ExpenseEquipment

2.Paid $200 insurance to cover a possible accident loss on new factory machinery while the machinery was in transit.

choose an account title

EquipmentLicense ExpensePrepaid InsuranceLand ImprovementsLand

3.Paid $850 sales taxes on a new delivery truck.

choose an account title

Land ImprovementsEquipmentLandPrepaid InsuranceLicense Expense

4.Paid $21,000 for parking lots and driveways on the new plant site.

choose an account title

License ExpenseLandEquipmentLand ImprovementsPrepaid Insurance

5.Paid $250 to have the company name and slogan painted on the new delivery truck.

choose an account title

License ExpenseEquipmentLandLand ImprovementsPrepaid Insurance

6.Paid $8,000 for installation of new factory machinery.

choose an account title

LandEquipmentLicense ExpenseLand ImprovementsPrepaid Insurance

7.Paid $900 for a 2-year accident insurance policy on the new delivery truck.

choose an account title

EquipmentLand ImprovementsLicense ExpenseLandPrepaid Insurance

8.Paid $75 motor vehicle license fee on the new truck.

choose an account title

EquipmentLandLand ImprovementsPrepaid InsuranceLicense Expense