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On April 15, Compton Co. paid $2,800 to upgrade a delivery truck and $125 for an oil change. What account(s) would be debited for the upgrade to delivery truck and oil change

Respuesta :

The journal entries for the upgrade to Compton Co.'s delivery truck and oil change expenditures are as follows:

Journal Entry on April 15:

Delivery Truck dr.........                                            $2,800

Delivery Truck Maintenance Expense dr.........     $125

     To Cash                                                                               $2,925

(To record the upgrade to the delivery truck and maintenance expense.)

Journal entries are used by the companies, firms, NPO, etc. to keep a record of the transactions done by it.

Journal entries are maintained with appropriate proofs of receipt, bill, etc.

This is so that the transaction can be backed by proof of such a transaction happening.

Journal entries are recorded in the journal book maintained by them.

Hence, The journal entries for the upgrade to Compton Co.'s delivery truck and oil change expenditures are as follows:

Journal Entry on April 15:

Delivery Truck dr.........                                            $2,800

Delivery Truck Maintenance Expense dr.........     $125

     To Cash                                                                               $2,925

(To record the upgrade to the delivery truck and maintenance expense.)

Learn more about journal entries:

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