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Calculate depreciation expense and make journal entry

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Question - Hunter Co. purchased a delivery truck. The total cash payment was $30,020, including:

Negotiated purchase price $24,000

Installation of special shelving 1,100

Painting and lettering 900

Motor vehicle license 180

Annual insurance policy 2,400

Sales tax 1,440

Total paid $30,020

Explain how each of these costs would be accounted for.

Calculate depreciation expense and make journal entry.

Reference no: EM132125726

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