37 journalize the following transactions for pets r us mar 5sold a truck for 10 000 4303474

37) Journalize the following transactions for Pets R Us:

Mar. 5Sold a truck for $10,000 that cost $15,000 and had an accumulated depreciation of $12,000.

Mar. 10A machine costing $13,000 with accumulated depreciation of $10,500 was destroyed in a fire. No claim was filed.

May 15Traded in a machine costing $25,000, with $19,000 of accumulated depreciation, for a new machine costing $32,000 with a trade-in allowance of$ 9,000.

38) Prepare journal entries for the following for Bartz, Inc.

May 11Replaced the engine in a Van #1, paying cash of $5,400.

May 18Paid cash for a tune-up of the engine in Van #2 of $570.

May 29Paid cash to add a lift to Van #2 of $3,700

39) A computer server system, which had cost $250,000 and had accumulated depreciation of $170,000, was traded for a new system with a fair market value of $245,000. The old system and cash of $190,000 were given for the new system. Prepare the journal entry for the exchange of these similar assets.

40) A computer server system, which had cost $250,000 and had accumulated depreciation of $170,000, was traded for a new system with a fair market value of $245,000. The old system and cash of $210,000 were given for the new system. Prepare the journal entry for the exchange of these similar assets assuming the income tax method is used to record the exchange.

41) Define and compare capital expenditures and revenue expenditures.