Cool Rays Tanning Salon bought three tanning beds in a $15,000 lump-sum purchase. An independent appraiser valued
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Cool Rays Tanning Salon bought three tanning beds in a $15,000 lump-sum purchase. An independent appraiser valued the tanning beds:
Tanning Bed _____________________ Appraised Value
1....................................................... $3,900
2 ........................................................ 5,400
3......................................................... 7,700
Cool Rays Tanning Salon paid $5,000 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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