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Explain to jas how trucks should be accounted for and why

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Question - Jas Sidhu owns a trucking business. He is a family friend and he is aware you are studying accounting. His company recently purchased a truck and the bookkeeper charged the expenditure to repairs and maintenance expense. Jas thinks the cost of the truck should be capitalized. Explain to Jas how the trucks should be accounted for and why?

Reference no: EM132524027

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