Question

Sunshine Tanning Salon bought three tanning beds in a $13,000 lump-sum purchase.
An independent appraiser valued the tanning beds as follows:
Tanning Bed Appraised Value
1 $2,000
2 6,000
3 8,000
Sunshine Tanning Salon paid $6,500 in cash and signed a note payable for $6,500. 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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  • CreatedApril 29, 2014
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