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A company credit card was used to purchase a new $250 computer monitor and a $125 cartridge for the office copier. The company capitalizes all

A company credit card was used to purchase a new $250 computer monitor and a $125 cartridge for the office copier. The company capitalizes all equipment purchases over $150. Sales tax, at 8%, was added to the cost of both items.

Prepare the entry to record the purchase.

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