Question

Instructions

On April 15, Compton Co. Paid $1,650 to upgrade a delivery truck and $65 for an oil change.

Required:

Journalize the entries for the upgrade to delivery truck and oil change expenditures. Refer to the Chart of Accounts For exact wording of

titles

Answer 1

The journal entries for the upgrade to Compton Co.'s delivery truck and oil change expenditures are as follows:

Journal Entries:

April 15: Debit Delivery Truck $1,650

Debit Delivery Truck Maintenance Expense $65

Credit Cash $1,715

• To record the upgrade to the delivery truck and maintenance expense.

What are journalizing entries?

Journalizing entries are the records of business transactions that are kept on a daily basis as transactions occur.

Before journalizing entries, transactions are analyzed to identify the accounts involved and the ones to be debited or credited.

Transaction Analysis:

Delivery Truck $1,650

Delivery Truck Maintenance Expense $65

Cash $1,715

Learn more about making journal entries at https://brainly.com/question/17201601