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BA Industries purchased a vehicle and incurred the following costs: Cash price $50,000 Sales tax...

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Question

Accounting

BA Industries purchased a vehicle and incurred the following costs: Cash price $50,000 Sales tax 1,000 Insurance during transit 500 Insurance for the year 500 What amount should be recorded as the cost of the vehicle?

Group of answer choices

$50,000

$51,500

$52,000

$51,000

Answer & Explanation Solved by verified expert
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