Quality Move Company made the following expenditures on one of its delivery trucks:
Mar. 20. Replaced the transmission at a cost of $1,890.
June 11. Paid $1,350 for installation of a hydraulic lift.
Nov. 30. Paid $55 to change the oil and air filter.
Prepare journal entries for each expenditure.
Answer:
Mar. 20 Accumulated Depreciation—Delivery Truck 1,890
Cash1,890
June 11 Delivery Truck1,350
Cash1,350
Nov. 30 Repairs and Maintenance Expense 55
Cash55
