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A company buys a large truck for $176,000 that should last for eight years. Afterfive years, the company spends another $27,000 on this truck for
A company buys a large truck for $176,000 that should last for eight years. Afterfive years, the company spends another $27,000 on this truck for the sole purpose of extending its life by three additional years. How is this expenditure recorded?
As an increase to the truck account
As an increase to maintenance expense
As an increase to repair expense
As a decrease to accumulated depreciation
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