Question: How would you jornalize these two trasactions? June 16: Byte purchased a building and the land it is on for $149,000.00 to house its repair
How would you jornalize these two trasactions?
June 16: Byte purchased a building and the land it is on for $149,000.00 to house its repair facilities and to store computer equipment. The lot on which the building is located is valued at $24,000.00. The balance of the cost is to be allocated to the building. Check # 5005 was used to make the down payment of $14,900.00. A thirty year mortgage with an inital payement due on August 1st, was established for the balance.
| June 23: Purchased office supplies for $800.00 from Staples on account. The invoice number was 65498. Included in the purchase was 10 units of Super RoutePro at a cost of $26.00 each. |
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