Explain how each of these costs would be accounted for.

Chapter 9 Do It... Is this Working? Question 1 View Policies Current Attempt in Progress Lofton Company purchased a delivery truck. The total cash payment was $27.900, including the following items. Negotiated purchase price Installation of special shelving Painting and lettering Motor vehicle license Annual Insurance policy Sales tax Total paid $24.000 1.100 900 100 500 1300 $27.900 Explain how each of these costs would be accounted for IC T. I TII . MI 3 Acant BE to search o TOTT