Question
Hummer Company purchased a delivery truck. The total cash payment was $30,000, including the following items. Explain how each of these costs would be accounted
Hummer Company purchased a delivery truck. The total cash payment was $30,000, including the following items. Explain how each of these costs would be accounted for.
| Negotiated purchase price | $24,000 |
| Installation of special shelving | 1,200 |
| Painting and lettering | 1,000 |
| Motor vehicle license | 180 |
| Annual insurance policy | 2,400 |
| Sales 7-2atax | 1,400 |
| Total paid | $30,180 |
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Financial Accounting Tools for Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
7th edition
978-1118344262, 111834426X, 1118162285, 978-1118562208, 1118562208, 978-1118162286
