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On January 1 , 2 0 2 3 , Land's End Construction purchased a used truck for $ 5 2 , 5 0 0 .
On January Land's End Construction purchased a used truck for $ A new motor had to be installed to get the truck good working order, the costs were $ for the motor and $ for the labour. The truck was also painted for $ it was ready for use by January A month insurance policy costing $ was purchased to cover the vehicle. The driver filled it with $ of gas before taking it on its first trip. It is estimated that the truck has a fiveyear useful life and a residual value of $ Land's End uses the straightline method to depreciate all of its vehicles. a Prepare the entry to record the purchase of truck, insurance, and gas: Journal entry worksheet
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