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Question 10.1: Capital and Revenue Expenditures On June 18, GTS Co. paid $1......

Capital and Revenue Expenditures

On June 18, GTS Co. paid $1,200 to upgrade a hydraulic lift and $45 for an oil change for one of its delivery trucks. Journalize the entries for the hydraulic lift upgrade and oil change expenditures.

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June 18      Delivery Truck . . . . . . . . . . . . . . . . . . . . . . . . . . . .   1,200

Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                  1,200

18      Repairs and Maintenance Expense . . . . . . . .    45

Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .                       45

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