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5. Boone Company purchased a piece of machinery by paying $18,000 cash. In addition to the purchase price, the company incurred $800 freight charges. The

5. Boone Company purchased a piece of machinery by paying $18,000 cash. In addition to the purchase price, the company incurred $800 freight charges. The machine has an estimated useful life of 5 years and will require $600 for insurance over that period. Boone Company would record the cost of the machine at a. $18,000 b. $18,800 on 11 c. $19,400 d. $18,200

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