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Who do you support in the given situation

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Question: Chester Davis is the owner of a large construction company. He went to a local foreclosure sale and purchased a car and two dump trucks for the lump sum price of $60,000. Chester tells Tori Lilly, who is the company controller, that she should record the purchase at $75,000 because that is the true "value" of the assets. Tori disagrees and tells Chester that she needs an itemization of the $60,000 cost so that she can correctly record the lump sum purchase. Who do you support? Why?

Reference no: EM132745090

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