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ABC Corp. acquired a printing machine from XYZ Co. in 2019. It paid $120,000 for the machine. Other related costs are summarized below search cost:

ABC Corp. acquired a printing machine from XYZ Co. in 2019. It paid $120,000 for the machine. Other related costs are summarized below

search cost: $300

legal title cost: $500

transportation: $1500

installation: $1200

What is the amount ABC should report on its balance sheet under Property, Plant and Equipment-printing machine?

$116,500

$123,500

$120,800

$120,000

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