United van lines purchased a truck with a list price of

Reference no: EM13588137

United Van Lines purchased a truck with a list price of 250,000 subject to a 6 percent discount if paid within 30 days. United Van Lines paid within the discount period. It paid 4,000 to obtain title to the truck with the state and an 800 license fee for the first year of operation. It paid 1,500 to paint the firm's name on the truck and 2,500 for property and liability insurance for the first year of operation. what acquistion cost of this truck should united van lines record in its accounting records? Indicate the appropriate accounting treatment of any amount not included in acquistion cost.

Reference no: EM13588137

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