journal entries

journal entries

The perth construction company purchased a piece of machinery on June 29, 2006 for $53 000. Freight costs came to $800. It cost $1700 to install and test the machinery. at this time it was estimate that the machine would be used for 6 years and would have a residual value of $8000 at that time.
a) Prepare the journal entry to record the purchase of the machine on June 29, 2006.
b)

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