Assume that Drummond Corp. purchases a delivery truck for ($15,000) cash plus sales taxes of ($900) and

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Assume that Drummond Corp. purchases a delivery truck for \($15,000\) cash plus sales taxes of \($900\) and delivery costs of \($500.\) The buyer also pays \($200\) for painting and lettering, \($600\) for an annual insurance policy, and \($80\) for a motor vehicle license. Explain how the company should account for each of these costs.

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