• The older delivery van costing $120,000 bought on 11 November 2016 was traded in for a new one on 19 June 2021. The new vehicle costs $180,000 before the trade-in allowance of $9,500  given by Motorola Ltd. The balance payable to the vendor was settled in early July 2021 No entries have been made in the books so far for the trade-in transaction.
• Unused office supplies at the end of 30 June 2021 amounted to $4,519.
• The allowance for debtor impairment is to be adjusted to $3,000.
• The old rental contract was renewed in May 2021. Rental for the first 6 months from May to October has been duly paid. The monthly rental was increased by 50% under the new contract.
• The 40 units of defective inventory returned by the customer on June 08 are to be written off.

The post The older delivery van costing $120,000 bought on 11 November 2016 was traded in for a new one on 19 June 2021. The new vehicle costs $180,000 before the trade-in allowance of $9,500 given by Motorola Ltd. The balance payable to the vendor was settled in early July 2021 No entries h appeared first on My Academic Papers.