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3. Texon Company purchased equipment and incurred the following costs. Cash price $24,000 Sales taxes 1,200 Insurance during transit ......200 Installation and testing........ 400 Total
3. Texon Company purchased equipment and incurred the following costs. Cash price $24,000 Sales taxes 1,200 Insurance during transit ......200 Installation and testing........ 400 Total costs $25,800 * What amount should be recorded as the cost of the equipment? (3 Points) $24,000 $25,400 $25,800 $ 25,200
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