Orion Flour Mills purchased a new machine and made the following expenditures: Purchase price $ 66,000 Sales tax 5,550 Shipment of machine 910 Insurance on the machine for the first year 610...


Orion Flour Mills purchased a new machine and made the following expenditures:













































Purchase price$66,000
Sales tax5,550
Shipment of machine910
Insurance on the machine for the first year610
Installation of machine1,820


The machine, including sales tax, was purchased on account, with payment due in 30 days. The other expenditures listed above were paid in cash.




Required:


Record the above expenditures for the new machine.
(If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)





Jun 10, 2022
SOLUTION.PDF

Get Answer To This Question

Related Questions & Answers

More Questions »

Submit New Assignment

Copy and Paste Your Assignment Here