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BA Industries purchased a vehicle and incurred the following costs: Cash price $50,000 Sales tax 1,000 Insurance during transit 500 Insurance for the year 500
BA Industries purchased a vehicle and incurred the following costs: Cash price $50,000 Sales tax 1,000 Insurance during transit 500 Insurance for the year 500 What amount should be recorded as the cost of the vehicle?
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$50,000
$51,500
$52,000
$51,000
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