Knowledge Check Tri Golf Course purchased a golf cart at a cash price of $14,000. Related cash expenditures are sales taxes $868, shipping costs $80, insurance during shipping $30, and a 3-year liability insurance policy, $300. What is the recorded cost of the golf cart? Cost of cart $ Prepare a journal entry to record the costs incurred by Tri Golf Course. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation (To record purchase of equipment and related expenditures) Debit Credit

Knowledge Check Tri Golf Course purchased a golf cart at a cash price of $14,000. Related cash expenditures are sales taxes $868, shipping costs $80, insurance during shipping $30, and a 3-year liability insurance policy, $300. What is the recorded cost of the golf cart? Cost of cart $ Prepare a journal entry to record the costs incurred by Tri Golf Course. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation (To record purchase of equipment and related expenditures) Debit Credit

Name: Bha Knowledge CheckTri Golf Course purchased a golf cart at a cash pri
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Description: Bha Knowledge CheckTri Golf Course purchased a golf cart at a cash price of $14,000. Related cash expenditures are sales taxes $868, shipping costs$80, insurance during shipping $30, and a 3-year liability insurance policy, $300.What is the recorded

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 11EB: Whole Leaves wants to upgrade their equipment, and on January 24 the company takes out a loan from...

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