Hummer Company purchased a delivery truck. The total cash payment was $30,020, including the following items. Negotiated purchase price..........................$24,000 Installation of special shelving........................1,100 Painting and
Negotiated purchase price..........................$24,000
Installation of special shelving........................1,100
Painting and lettering....................................900
Motor vehicle license....................................180
Annual insurance policy...............................2,400
Sales tax.................................................1,440
Total paid.............................................$30,020
Explain how each of these costs would be accounted for.
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Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th edition
1118096894, 978-1-11921511, 978-1118096895
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