Coulter Company purchases a piece of equipment on February 1, 2020 for $90,000. In addition to the purchase price, the company makes the following expenditures: freight, $3,400; installation, $1,650; testing prior to use, $800; property taxes on the equipment for the first year $1,200; sale tax on the purchase $2,000, and prepayment of the first year of insurance on the equipment, $1,400. What amount should Coulter Company debit the equipment account for on the date of purchase? $100.450 $99.050 ear of insurance on the equipment account for on the date of Coulter Company debit the equipment account for on the date of purchase? $100,450 $99.050 $97.850 $97.050 None of the above