Essay
Klocke Corporation purchased a truck for its delivery service.The list price of the truck was $32,000 but Klocke paid $5,000 cash and signed a $24,000 five year installment note to buy the truck.Before the truck was put into service the company logo was printed on the doors at a cost of $300.Because the truck will be making many deliveries to off-road locations,Klocke installed special shock absorbers that cost $300,however,$50 of the cost was due damage repaired when one of shocks was installed incorrectly.Sales tax on the truck was $1,200 and property tax for the first year was $600.What is the cost of the new truck?
Correct Answer:
Verified
Correct Answer:
Verified
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