1. A company purchased a delivery van for $35,000. The company was given a $3,000 cash discount by the dealer, and paid $1,500 sales tax. Annual insurance or the van is $500. As a result of the purchase, by how much will the company increase its van account? 1) $35,000. O2) $33,000. 3) $34,000. 4) $33,500.

1. A company purchased a delivery van for $35,000. The company was given a $3,000 cash discount by the dealer, and paid $1,500 sales tax. Annual insurance or the van is $500. As a result of the purchase, by how much will the company increase its van account? 1) $35,000. O2) $33,000. 3) $34,000. 4) $33,500.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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