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Explain how each of these costs would be accounted

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African Lakes Company purchased a delivery truck. The total cash payment was $27,900, including the following items.

Negotiated purchase price....... $24,000
Installation of special shelving..... 1,100
Painting and lettering.......... 900
Motor vehicle license.......... 100
Annual insurance policy........ 500
Sales tax............... 1,300
Total paid............. $27,900

Explain how each of these costs would be accounted for. 

Reference no: EM131140356

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