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
Authors: W Steve Albrecht, Earl K Stice
11th Edition
0538746955, 9780538746953
