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A company purchased new equipment for $47,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $1,300; sales
A company purchased new equipment for $47,000. The company paid cash for the equipment. Other costs associated with the equipment were: transportation costs, $1,300; sales tax paid $2,200; and installation cost, $2,200. The cost recorded for the equipment was:
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