Question $3$

$1$ pts

A business purchased a used delivery truck for $$15,000.$ A cost analysis

determines that the business got a great deal because the vehicle is later

determined to have an actual resale value of $$20,000.$ Which of the two

amounts should actually be recorded for the financial transaction

entered into the ledger?

$*$Hint: Apply the cost principle of accounting.

$35,000$

$20,000$

$5,000$

$15,000$