1. Classify the following as either revenue or capital expenditures. a. Completed an addition to an office...
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a. Completed an addition to an office building for $250,000 cash.
b. Paid $160 for the monthly cost of replacement filters on an air-conditioning system.
c. Paid $300 cash per truck for the cost of their annual tune-ups.
d. Paid $50,000 cash to replace a compressor on a refrigeration system that extends its useful life by four years.
2. Prepare the journal entries to record transactions a and d of part 1.
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Related Book For
Fundamental Accounting Principles
ISBN: 978-0078110870
20th Edition
Authors: John J. Wild, Ken W. Shaw, Barbara Chiappetta
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