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Kingbird Company purchased a delivery truck (vehicles) on June 1 for $31,680, paying $18,000 cash and signing a 5%, two-month note for the remaining balance,

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Kingbird Company purchased a delivery truck (vehicles) on June 1 for $31,680, paying $18,000 cash and signing a 5%, two-month note for the remaining balance, interest to be paid at maturity. The truck is expected to have a six-year useful life. Kingbird Company prepares monthly financial statements.Show how the delivery truck will be reflected on Kingbird Company's balance sheet on June 30. KINGBIRD COMPANY Balance Sheet (partial) HA

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