Novak Company had the following two transactions related to its delivery truck.

Question

Novak Company had the following two transactions related to its delivery truck. 1. Paid $150 for an oil change 2. Paid $700 to install a special gear unit, which increases the operating efficiency of the truck. Prepare Novak's journal entries to record these two transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No Account Titles and Explanation 1. Debit Credit 2.

Explanation / Answer

no Account titles & Explanations Debit Credit 1 Repairs & Maintenance 150 Cash 150 2) Delivery Truck 700 cash 700

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