Question: Please help me with 2 separate journal entries for this event. On January 13 Company A ordered a barcode system that costs $5,995 (including the

Please help me with 2 separate journal entries for this event.

  1. On January 13 Company A ordered a barcode system that costs $5,995 (including the sales tax) and the installation company will charge Company A $1,200 for installation and tests. Company A paid a deposit of $3,000 on the system and the rest is due and payable when the system is installed. Company A will classify the barcode system as PPE.
  2. On January 31 the installation company installed and tested the new barcode system. Company A wrote a check to the installation company for $4,195.

Accounts: Bank Account Property, Plant & Equipment Deposits on Purchases Payables - Miscellaneous

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