(Answered) Question - janus coat company purchased a delivery truck on

Accounting

Question - Janus Coat Company purchased a delivery truck on July 1 for $30,000, paying $10,000 cash and signing a 6% note for the remaining balance. The truck is expected to depreciate $6,000 each year.

Instructions:

(a) In the space below, prepare the general journal entry to record the acquisition of the delivery truck on July 1st;

(b) List adjusting journal entries for December 31st;

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