Question: How do you put the amount into the debit and credit column below? 1. Acquisition of equipment (truck) Acquisition costs of trucks Company operates a
1. Acquisition of equipment (truck) Acquisition costs of trucks Company operates a retail computer store. To improve delivery services to customers, the company purchases four new trucks on April 1 2020 The terms of each of the four trucks are described as follows: Truck # 1 has a list price of $ 15,000 and is acquired with a cash payment of $ 13,900 Debit Credit Truck # 2 has a list price of $ 16,000 and is acquired for a down payment of $ 2,000 and a zero-interest-bearing note with a face amount of $ $ 14,000 The note is due April 1 2021 The company normally has to pay an interest rate of and the dealership has an incremental borrowing rate of 10% 8% for such a borrowing, Debit Credit 1
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