Lapeer Flour Mills purchased new equipment and made the following expenditures:
Purchase price \$ 64,000
Sales tax \$ 5,450
Shipment of equipment \$ 890
Insurance on the equipment for the first year \$ 590
Installation of equipment \$ 1,780
Required:
Record the expenditures. All expenditures were paid in cash. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)
Record the expenditures. All expenditures were paid in cash.
Note: Enter debits before credits.
Transaction
General Journal
Debit
Credit
1