If a truck's engine is overhauled for $8,000,the journal entry would normally include a debit to:
A)Vehicles.
B)Accounts Payable.
C)Depreciation Expense.
D)Cash.

Question

Quizplus · Accepted Answer

In contrast to ordinary repairs and maintenance,extraordinary repairs occur infrequently,involve large expenditures,and increase an asset's usefulness through enhanced efficiency,capacity,or lifespan.Examples include additions,major overhauls,complete reconditioning,and major replacements and improvements.The overhaul would be debited to the Vehicles account.

If a Truck's Engine Is Overhauled for $8,000,the Journal Entry