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Indicate to which account Jupiter would debit each of the costs

Jupiter Company incurred the following costs.

1. Sales tax on factory machinery purchased $ 5,000
2. Painting of and lettering on truck immediately upon purchase 700
3. Cost of paving parking lot for new building constructed 17,900
4. Real estate broker's commission on land purchased 3,500
5. Insurance premium paid for first year's insurance on new truck 880
6. Cost of landscaping on property purchased 7,200
7. Installation and testing of factory machinery 2,000
8. Architect's fees on self-constructed building 10,000
9. Cost of clearing, draining, and filling land 13,300

Instructions:

Indicate to which account Jupiter would debit each of the costs.

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Dear student,
Answers are provided in a separate word document attached and it is also produced herewith.

Jupiter Company
1. Sales tax on factory machinery purchased $ 5,000
Debited to Machinery Account

2. Painting of and lettering on truck immediately upon purchase 700--- Debited to Truck Account

3. Cost of paving parking lot for ...

Solution Summary

The expert indicates an account Jupiter would debit each of the costs is determined.

$2.19