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Amber Company purchased a new machine on a deferred payment basis. A down payment of P100,000 was made and 4 monthly installments of P250,000 are to be made at the end of each month. The cash equivalent price of the machine was P950,000. The entity incurred and paid installation cost amounting to P30,000

What amount should be capitalized as cost of the machine?

Amber Company purchased a new machine on a deferred payment basis. A down payment of P100,000 was made and 4 monthly installments of P250,000 are to be made at the end of each month. The cash equivalent price of the machine was P950,000. The entity incurred and paid installation cost amounting to P30,000

What amount should be capitalized as cost of the machine?

P1,130,000

P1,100,000

P950,000

P980,000