BLEM 9.1B mining the Cost nt Assets + 90 40+5+210016. 860 Walker Motel recently purchased new exercise equipment for its exercise room. The following information refers to the purchase and installation of this equipment: a. was 1. The list price of the equipment was $40,000; however, Walker qualified for a "special dis- count" of $5,000. It paid $10,000 cash for the equipment, and issued a three-month, 12 percent note payable for the remaining balance. The note, plus accrued interest charges of $750, w paid promptly at the maturity date. 2. In addition to the amounts described in 1, Walker paid sales taxes of $2,100 at the date of purchase. 3. Freight charges for delivery of the equipment totaled $600. 4. Installation and training costs related to the equipment amounted to $900. 5. During installation, one of the pieces of equipment was accidentally damaged by an employee. It cost the motel $400 to repair this damage. Instructions In one sentence, make a general statement summarizing the nature of expendit