Business, 30.07.2021 04:50 emilypk1998

Precision Construction entered into the following transactions during a recent year. January 2 Purchased a bulldozer for $250,000 by paying $20,000 cash and signing a $230,000 note due in five years.
January 3 Replaced the steel tracks on the bulldozer at a cost of $20,000, purchased on account. The new steel tracks increase the bulldozer's operating efficiency.
January 30 Wrote a check for the amount owed on account for the work completed on
February 1 Replaced the seat on the bulldozer and wrote a check for the full $800 cost.
March 1 Paid $3,600 cash for the licensing rights to use computer software for a two-year period.

Required:
Prepare the journal entries for each of the above transactions.

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Precision Construction entered into the following transactions during a recent year. January 2 Purc...

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