Match the items and explain how each item should be accounted for. (Choices may be used more than once.)
a.This item should be included as part of the cost of the equipment.b.This item should be considered a revenue expenditure.
-The company financed the equipment purchase with a bank loan. Interest of $3,000 was paid on the loan during 2013.

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The Answer of Match the items and explain how each item should be accounted for. (Choices may be used more than once.)
a.This item should be included as part of the cost of the equipment.b.This item should be considered a revenue expenditure.
-The company financed the equipment purchase with a bank loan. Interest of $3,000 was paid on the loan during 2013.

Match the Items and Explain How Each Item Should Be