Paid $43 for an oil change. Paid $405 to install special shelving units, which increase the operating efficiency of th- re Pharoah Company's journal entries to record these two transactions. (Credit account th nt Is entered. Do not Indent manually. If no entry Is requlred, select "No Entry" for the account tit Account Titles and Explanation Debit

Principles of Accounting Volume 1
19th Edition
ISBN:9781947172685
Author:OpenStax
Publisher:OpenStax
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 5PB: Review the following transactions and prepare any necessary journal entries. A. On January 5, Bunnet...
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Pharoah Company had the following two transactions related to its delivery truck.
1.
Paid $43 for an oil change.
2.
Paid $405 to install special shelving units, which increase the operating efficiency of the truck.
Prepare Pharoah Company's journal entries to record these two transactions. (Credit account titles are automatically Indented wher
amount Is entered. Do not indent manually. If no entry is requlred, select "No Entry" for the account titles and enter O for the amounts.)
No. Account Titles and Explanation
Debit
Credit
1.
2.
Transcribed Image Text:Pharoah Company had the following two transactions related to its delivery truck. 1. Paid $43 for an oil change. 2. Paid $405 to install special shelving units, which increase the operating efficiency of the truck. Prepare Pharoah Company's journal entries to record these two transactions. (Credit account titles are automatically Indented wher amount Is entered. Do not indent manually. If no entry is requlred, select "No Entry" for the account titles and enter O for the amounts.) No. Account Titles and Explanation Debit Credit 1. 2.
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