Question
Jessica Grewal decided to open a food truck business, the Samosa Shack. She encountered the following transactions in managing her equipment over the first 2
Jessica Grewal decided to open a food truck business, the Samosa Shack. She encountered the following transactions in managing her equipment over the first 2 years of her business. April 1, 2021 Purchased food truck for $84,000 and paid $8,400 to have a commercial oven installed. Other costs that she incurred are $8,400 for insurance on the truck for the first year, and $3,000 to have the truck painted with her Samosa Shack logo. Jessica estimates that the truck would last 5 years and have a $12,000 residual value. The oven is also expected to last 5 years
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