Question

Tonya’s Tanning Salon bought three tanning beds in a $ 10,000 lump-sum purchase. An independent appraiser valued the tanning beds as follows:
Tanning Bed Appraised Value
1 $ 3,000
2 5,000
3. 4,000
Tonya’s Tanning Salon paid $ 5,000 in cash and signed a note payable for $ 5,000. 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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