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3. African Lakes Company purchased a delivery truck. The total cash payment was $27,900, including the following items. Negotiated purchase price $24,000 Installation of special

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3. African Lakes Company purchased a delivery truck. The total cash payment was $27,900, including the following items. Negotiated purchase price $24,000 Installation of special shelving 1,100 Painting and lettering 900 Motor vehicle license 100 Annual insurance policy 500 Sales tax 1,300 Total paid $27,900 Explain how each of these costs would be accounted for. * 67

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