Yockey HVAC purchased a delivery truck. The total cash payment was 28,220 including the following items. Negotiated

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Yockey HVAC purchased a delivery truck. The total cash payment was £28,220 including the following items.

Negotiated purchase price..................................£24,000
Installation of special shelving ...............................1,200
Painting and lettering .................................................780
Motor vehicle license .................................................140
Annual insurance policy ............................................800
Sales tax ...................................................................1,300
Total paid .............................................................£28,220

Explain how each of these costs would be accounted for.

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Related Book For  book-img-for-question

Accounting Principles

ISBN: 978-1119419617

IFRS global edition

Authors: Paul D Kimmel, Donald E Kieso Jerry J Weygandt

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