On January 1, 2021, Paul Company purchased a delivery truck for $ 45,000 on a 120-day, 6 %, note. The interest of $ 900
Posted: Wed Jul 06, 2022 6:24 am
On January 1, 2021, Paul Company purchased a delivery truck for$ 45,000 on a 120-day, 6 %, note. The interest of $ 900 will bepaid with the principal. In addition, management had to pay a salestax of five percent, shipping costs of $ 100, and repair costs of $250 to replace a tire that was accidentally punctured.
Required: Calculate the total cost of the equipment.Indicate what the appropriate treatment would be for each cost thatwas not included in the cost of the equipment.
Required: Calculate the total cost of the equipment.Indicate what the appropriate treatment would be for each cost thatwas not included in the cost of the equipment.