Question

Amy’s Tanning Salon bought three tanning beds in a $ 20,000 lump- sum purchase. An independent appraiser valued the tanning beds as follows:
Tanning Bed Appraised Value
1.......................................... $ 7,000
2.......................................... 8,000
3.......................................... 11,000
Amy’s Tanning Salon paid $ 10,000 in cash and signed a note payable for $ 10,000 Record the purchase in the journal, identifying each tanning bed’s cost by number in a separate Tanning Bed account. Round decimals to three places.


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  • CreatedJuly 08, 2015
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