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On December 31, 2015, Juan Foods purchases a van for $12,000. How does the purchase of the van affect Juan Foods' 2015 income statement?

On December 31, 2015, Juan Foods purchases a van for $12,000. How does the purchase of the van affect Juan Foods' 2015 income statement?
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On December 31, 2015, Juan Foods purchases a van for $12,000. How does the purchase of the van affect Juan Foods' 2015 income statement?

User ARJUN KP
by
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1 Answer

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Answer:

It affects the income because you have to take out of the income to buy the van so your income is less.

Explanation:

User Sumit Trehan
by
9.0k points
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