Your primary business is selling printers and you just purchased 20 at $1,000 each for $20,000 cash. One will be used by accounting for 3 years, one will be used for R&D on one project, and the rest will be sold, without paraphrasing, quoting from the book or journal entries. How would you account for each at the point of purchase and how would it appear on the income statement and balance sheet? Answer each separately to get all the points in full sentences please.
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