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On July 1, 2022, Los Pollos Hermanos restaurant purchased a delivery truck for $40,000 cash. It paid $1,500 in sales taxes and $1,200 in freight

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On July 1, 2022, Los Pollos Hermanos restaurant purchased a delivery truck for $40,000 cash. It paid $1,500 in sales taxes and $1,200 in freight costs. It also paid $800 to have its logo painted on the side of the truck. When Los Pollos Hermanos records this transaction on July 1 , it will: increase Delivery Truck Expense, $42,700 increase the asset, Delivery Truck, $42,700 increase the asset, Delivery Truck, $43,500 increase Delivery Truck Expense, $43,500

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