Question: On August 1 , 2 0 2 0 , Liggett Enterprises purchased a new truck on a deferred payment basis. A $ 1 2 ,

On August 1,2020, Liggett Enterprises purchased a new truck on a deferred payment basis. A $12,000 down payment was made and 4 monthly installments of $10,000 each are to be made starting September 1,2020. The cash equivalent price of the truck was $48,000. Liggett incurred and paid delivery costs of $2,000. What is the amount to be capitalized as the cost of the truck?
$48,000.
$52,000.
$50,000.
$54,000.
On August 1,2020, Liggett Enterprises purchased a new truck on a

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