Record journal entries for the following transactions involving property, plant and equipment for Blankenship Company Ltd: 

a) Purchased equipment costing $100,000. 

b) Paid freight to have equipment delivered, $500. 

c) Paid $1,000 to have equipment installed. 

d) Paid $50,000 to have a similar piece of equipment overhauled.

e) Paid  $100 for periodic maintenance to new equipment

Answer rating: 100% (QA)

To record the journal entries for the transactions involving property plant and equipment for Blanke... View the full answer