Question: nstructions: Journalize each transaction below. Prepare all necessary schedules. Changed oil and oil filter on truck, $125 cash Installed equipment on truck, $2,500 cash. Replaced

nstructions: Journalize each transaction below. Prepare all necessary schedules.

  1. Changed oil and oil filter on truck, $125 cash
  1. Installed equipment on truck, $2,500 cash.
  1. Replaced motor on equipment, $3,500 cash
  1. Madison Company retired some equipment that cost $135,000 and had accumulated depreciation of $130,000. Journalize the retirement of the equipment.
  1. Madison Co. sold office equipment that originally cost $55,000 for $5,000 cash. The equipment had accumulated depreciation in the amount of $49,000. Record the sale of the equipment.

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