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How each of the costs would be accounted for

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Yockey Company purchased a delivery truck. The total cash payment was $27,820 including the following items.

Negotiated purchase price $24,000

Installation of special shelving 1,100

Painting and lettering 780

Motor vehicle license 140

Annual insurance policy 500

Sales tax 1,300

Total paid $27,820

Parking lights $650

Instructions:

Question 1: Explain how each of the costs would be accounted for.

Reference no: EM132611103

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