A company credit card was used to purchase a new $250 computer monitor and a $125 cartridge
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Question:
A company credit card was used to purchase a new $250 computer monitor and a $125 cartridge for the office copier. The company capitalizes all equipment purchases over $150. Sales tax, at 8%, was added to the cost of both items.
Prepare the entry to record the purchase. (If no entry is required, select "No debit" or "No credit" in the account field. )
Related Book For
Integrated Accounting
ISBN: 978-1285462721
8th edition
Authors: Dale A. Klooster, Warren Allen, Glenn Owen
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