Homework Answers
| Journal entry to record truck upgradation and oil change | |||
| Account Titles | Debit | Credit | |
| Delivery Truck | $1,750.00 | ||
| Repairs and Maintenance | $45.00 | ||
| Cash | $1,795.00 | ||
| Note : | |||
| Upgradation cost of delivery truck increase its useful life , hence this cost is capitalised. | |||
| Oil change expense is part of routine maintenance expense. | |||
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