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Prepare the journal entry if Bench Company purchases a delivery van for $22,175 with related expenditures of sales taxes $443, painting $225, vehicle license $210, and accident insurance $875.
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Prepare the journal entry if Bench Company purchases a delivery van for $22,175 with related expenditures of sales taxes $443, painting $225, vehicle license $210, and accident insurance $875.

User Zimi
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1 Answer

3 votes

Answer:

Dr Equipment $22,843

Dr Licence expenses $210

Drr Prepaid Insurance $875

Cr Cash $23,928

Step-by-step explanation:

Journal entry for Bench Company

Dr Equipment $22,843

($22,175+$443+$225)

Dr Licence expenses $210

Dr Prepaid Insurance $875

Cr Cash $23,928

User Honza R
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