Knowledge Check Tri Golf Course purchased a golf cart at a cash price of $14,000. Related cash expenditures are sales taxes $868, shipping costs $80, insurance during shipping $30, and a 3-year liability insurance policy, $300. What is the recorded cost of the golf cart? Cost of cart $ Prepare a journal entry to record the costs incurred by Tri Golf Course. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation (To record purchase of equipment and related expenditures) Debit Credit
Knowledge Check Tri Golf Course purchased a golf cart at a cash price of $14,000. Related cash expenditures are sales taxes $868, shipping costs $80, insurance during shipping $30, and a 3-year liability insurance policy, $300. What is the recorded cost of the golf cart? Cost of cart $ Prepare a journal entry to record the costs incurred by Tri Golf Course. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation (To record purchase of equipment and related expenditures) Debit Credit
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter5: Sales And Receivables
Section: Chapter Questions
Problem 34CE: Notes Receivable Metzler Communications designs and programs a website for a local business. Metzler...
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