Mirobel Trucking bought three used trucks for $60,000. An independent appraisal of the trucks produced the following

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Mirobel Trucking bought three used trucks for $60,000. An independent appraisal of the trucks produced the following figures:
Truck No. _________________________ Appraised Value
1 .................................................. $24,000
2 .................................................. 22,000
3 .................................................. 20,000
Mirobel Trucking paid 25 percent in cash and signed a note for the remainder. Record the purchase in the general journal, identifying each truck's individual cost in a separate Truck account.
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Related Book For  answer-question

Accounting Volume 1

ISBN: 978-0132690096

9th Canadian edition

Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood

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