Wildhorse Company had the following two transactions related to its delivery truck. 1. Paid $46 for an oil change. Paid $410 to install special shelving units, which increase the operating efficiency of the truck. 2. Prepare Wildhorse's journal entries to record these two transactions.

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24-11-2022
Business

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Wildhorse Company had the following two transactions related to its delivery truck. 1. Paid $46 for an oil change. Paid $410 to install special shelving units, which increase the operating efficiency of the truck. 2. Prepare Wildhorse's journal entries to record these two transactions.

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Bhupendarkumar Bhupendarkumar · Answer 1 · 2022-11-26T12:16:59+01:00

Each record contains a consistent list of the amounts and accounts impacted by each transaction. Throughout every journal entry, there will be at least one debit and one credit.

What are some examples of transactions?

A few examples of trades are as follows: payment for goods or services obtained from a supplier. acquiring real estate that purchaser previously held by paying the seller with cash and a note. compensating an employee for the time they work

What are called transactions?

A transaction is defined as an agreement that has been formalized between a buyer and a seller to transfer goods, services, or financial assets in exchange for cash.

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