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Journalize Each of the Following Transactions: (A) a Wing Costing $2,345,000\$ 2,345,000

Question 63

Essay

Journalize each of the following transactions: (a) A wing costing $2,345,000\$ 2,345,000 was added to the building. A new mortgage was issued for the cost.
(b) Equipment was upgraded to increase its capacity to produce widgets. The upgrade cost of $11,500\$ 11,500 was paid in cash.
(c) A major overhaul costing $8,000\$ 8,000 on a machine increased the useful life by 4 years. The payment was made in cash.

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