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Southwest Milling Co purchased a front-end loader to move stacks of lumber. The loader had a list price of $121,950. The seller agreed to allow a 5.50 percent discount because Southwest Milling paid cash. Delivery terms were FOB shipping point Freight cost amounted to $2,260. Southwest Milling had to hire a specialist to calibrate the loader. The specialist's fee was $870. The loader operator is paid an annual salary of $32,790. The cost of the company's theft insurance policy increased by $2,450 per year as a result of acquiring the loader. The loader had a four-year useful life and an expected salvage value of $7,300 Required a. Determine the amount to be capitalized in an asset account for the purchase of the loader. (Round your answers to the nearest whole dollar. Amounts to be deducted should be indicated with minus sign.) Answer is complete but not entirely correct. Costs that are to be capitale List price Less Discount Freight cost Specialist fee Total costs $ 121,950 6.707 2,260 870 $ 131,787 b. Record the purchase in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your answers to the nearest whole dollar.) Answer is not complete. General Journal Credit No Event 1 Land Bulding Furniture Cash OOOO Debit 146.186 200.044 423.170 . 769,400 b. Record the purchase in general journal format. (If no entry is required for a in the first account field. Round your answers to the nearest whole dollar.) View transaction list View journal entry worksheet OX: x Record purchase equipment for cash. B Record cash paid for freight cost. Record cash paid for specialist's fee

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