Journalize the Following Transactions

question 53

Essay

Journalize the following transactions:
Feb 21 Purchased machinery for $4,500 on account.
Feb 23 Paid the shipping company $400 to get the machinery delivered.
Aug 1 Paid for the outstanding invoice from February 21.
Dec 31 Recorded depreciation on the machinery assuming the company
uses the units of production method, estimates total production to be
100,000 units, and has produced 12,000 units this year.
Dec 31 Paid $300 for minor repairs on the machine.

---

Definitions:

Comparative Information

Data or facts that are used to compare different entities, situations, or conditions to understand similarities or differences.

Perceived Trustworthy

The extent to which a person or entity is believed to be reliable, honest, and deserving of trust.

Initiation Fee

A charge or payment required for beginning membership or participation in a club, organization, or program.

Honour Society

An organization that recognizes excellence among peers; often in academic or professional contexts.