Balance sheet prior to recording depreciation expense

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Reference no: EM131205955

Salvia Company recently purchased a truck. The price negotiated with the dealer was $43,000. Salvia also paid sales tax of $2,600 on the purchase, shipping and preparation costs of $3,600, and insurance for the first year of operation of $4,600. At what amount should the truck be recorded on the balance sheet prior to recording depreciation expense?

Reference no: EM131205955

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