Question: Precision Construction entered into the following transactions during a recent year: January 2 Purchased a bulldozer for $252,000 by paying $21,000 cash and signing a

Precision Construction entered into the following transactions during a recent year:

January 2 Purchased a bulldozer for $252,000 by paying $21,000 cash and signing a $231,000 note due in five years.
January 3 Replaced the steel tracks on the bulldozer at a cost of $21,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency.
January 30 Wrote a check for the amount owed on account for the work completed on January 3.
February 1 Repaired the leather seat on the bulldozer and wrote a check for the full $900 cost.
March 1 Paid $4,200 cash for the rights to use computer software for a two-year period.

Required:

  1. 1-a. Complete the table below, for the above transactions. (Enter any decreases to Assets, Liabilities, or Stockholders' Equity with a minus sign.)

Precision Construction entered into the following transactions during a recent year: January

Assets Liabilities Stockholders' Equity Date January 02 January 03 January 30 February 01 March 01

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