Beaver Construction purchases new equipment for $31,200 cash on April 1, 2018. At the time...
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Beaver Construction purchases new equipment for $31,200 cash on April 1, 2018. At the time of purchase, the equipment is expected to be used in operations for five years (60 months) and have no resale or scrap value at the end, Beaver depreciates equipment evenly over the 60 months ($520/month). 1. & 2. Record the necessary entries in the Journal Entry Worksheet below. (If no entry is required for a particular transaction, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 2 Record the purchase of equipment Note: Enter debits before credits. Date General Journal Debit Credit Apr 01 Date General Journal Debit Credit Dec 31
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