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Discuss toms needs to make an entry showing the expense

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Tom's Grocery purchased 5 new cash registers for their new store and they paid $2,400 each for a total of $12,000 on August 1, 2013, the day they were delivered. The cash registers are expected to have useful lives of 5 years and they are not expected to have any salvage value. Tom's Grocery uses straight-line depreciation. The cash registers were recorded as long-lived assets at the time of the purchase and now Tom's needs to make an entry showing the expense related to these cash registers up to December 31, 2013.

Please specify which accounts will be used, AND the amounts associated with each to balance. (View attached picture for better understanding and to see each grey box to be used in the accounting equation, they are also listed below)

Accounts receivable

Accumulated depreciation

Depreciation

Retained earnings

Accounts payable

Property, plant, and equipment

Please answer as soon as possible!!

Reference no: EM131756358

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