McBride Industries completed the following transactions during 2018:
Journalize the transactions (explanations are not required).Round to the nearest dollar.
Definitions:
Net Capital Investment
The total capital investment in a company minus the depreciation on its previous capital investments.
Pre-Tax Salvage Value
The estimated value of an asset at the end of its useful life, before subtracting taxes associated with its disposal.
Working Capital
Working Capital is the difference between a company's current assets and current liabilities, indicating the liquidity and operational efficiency of the business.
Tax Rate
The percentage at which an individual or corporation is taxed; the government sets these rates to collect revenues.
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