The balance of purchase price was on credit

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Reference no: EM131247491

On 1 September, Harvey Ltd purchased a second hand vehicle for $5,400. On 20 November, the company purchased another vehicle costing $7,000 and the dealer offered a trade-in for the old vehicle of $4,950. The balance of purchase price was on credit. As a result of this event, the reported profit of this financial year will ??

Reference no: EM131247491

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