CAPITAL EXPENDITURES & REVENUES AL-MEHRAN LTD. acquired a machine on July 1, 2015 by incuring the following expenditures on cash basis: 1. Net cash price of machine Rs. 80,000 2. Sales tax on machine Rs. 10,000 3. Custom duty on machine Rs. 20,000 4. Property tax on machine Rs. 2,000 for 6 months. 5. Machine was damaged during installation and was repaired at a cost Rs. 3,500. 6. Installation and testing cost Rs. 6,000. 7. Machine was insured against risk of fire for Rs. 1,500 for six months. Page 3 of 4 Double-click to e 8. Insurance in transit Rs. 4,000. 9. Freight charges Rs. 6,500. Required: a. Conpute cost of machine. b. Pass general entries to record acquisition of machine and revenue expenditures