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On Nov. 1, ABC Company paid $6,000 to overhaul the engine on a delivery truck...

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Accounting

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On Nov. 1, ABC Company paid $6,000 to overhaul the engine on a delivery truck to allow it to be used for two additional years. It also paid $95 for an oil change on the truck. Which of the following statements is true? Assume $3,000 is a material expenditure for ABC Company. The $6,000 is a capital expenditure and the $95 is a revenue expenditure. Both items are capital expenditures. The $6,000 is a revenue expenditure and the $95 is a capital expenditure

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