Prepare a journal entry for the purchase of a truck on april 4 for $85,700, paying $15,000 cash and the remainder on account. refer to the chart of accounts for exact wording of account titles.

Which of the following statements are false regarding activity-based costing? non-manufacturing costs are important to include when calculating the cost of each product. costs are allocated based on a pre-determined overhead rate. transitioning from traditional costing methods to activity-based costing can be complicated and costly. activity-based costing follows the same basic calculation methods as traditional costing approaches. none of the above