For each of the items below, prepare the appropriate entry .1. A motor in one...
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Accounting
For each of the items below, prepare the appropriate entry
.1. A motor in one of Excels trucks was overhauled at a cost of $2,500. Excel expects this overhaul will make the truck operated on a more efficient basis, i.e., the truck will get better gas mileage.
2. James, a maintenance worker at Excel, spent the entire week unloading and setting up a new machine in Excels factory. James earned $1,500 that week, however, James will not be paid until the following week. (Do not worry about any withholdings from James pay.)
3. Excel incurred and paid $1,600 for ordinary repairs on one of its machines.
4.Excel incurred and paid $10,000 for adjustments to one of its machines. The adjustments will increase the useful life of the machine.
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