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Anderson purchased a sanding machine for their factory. The following costs were incurred: $70,000 Purchase price $1,000 Sales tax $750 Shipping $50 Shipping insurance between

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Anderson purchased a sanding machine for their factory. The following costs were incurred: $70,000 Purchase price $1,000 Sales tax $750 Shipping $50 Shipping insurance between seller and factory $100 Extended warranty for any issues over the first year For what amount should Anderson record on the balance sheet for the machine? A. B. $70,000 $71,900 $71,800 $71,750 C. D

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