Listed below are costs (or discounts) to purchase or construct new plant assets. 1. Indicate whether the costs should be expensed or capitalized (included in the cost of the plant assets on the balance sheet.)
2. For costs that should be, indicate in which category of plant assets (Equipment, Building, or Land) the related costs should be recorded on the balance sheet.
1. Charges incured to train employees to use new equipment.
2. Invoice cost to purchase new equipment
3. Deduction for an earl payment discount taken on the puchase of new equipment.
4. Real estate commissions incurred on land purchased for a new plant.
5. Property taxes on land incurred after it was purchased
6. Costs of tune-up for the truck used to deliver new equipment
7. Costs to lay foundation for a new building
8. Insurance on a new building during the construction phase.

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya. jan. 3purchased on account 350 widgets for $11 each. b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c. jan. 10purchased on account 625 widgets for $12 each. d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company. e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered. f.jan. 13paid for the purchases made on jan. 3.g. jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h. jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition. i.jan. 25received payment for the sale made on jan. 5.j. jan. 26paid for the purchases made on jan. 10.k. jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."