On January 1, 2016, Trenton Company purchased a machine costing $50,000. Trenton also incurred the following costs: transportation, $1,000; installation, $2,000; and sales tax, $3,000.
Required:
Prepare the journal entry to record the machine acquisition assuming cash was paid.

Question

Quizplus · Accepted Answer

The Answer of On January 1, 2016, Trenton Company purchased a machine costing $50,000. Trenton also incurred the following costs: transportation, $1,000; installation, $2,000; and sales tax, $3,000.
Required:
Prepare the journal entry to record the machine acquisition assuming cash was paid.

On January 1, 2016, Trenton Company Purchased a Machine Costing