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Crane Company purchased equipment and these costs were incurred: Cash price $65000 Sales taxes 4100 Insurance during transit 700 Installation and testing 950 Total costs
Crane Company purchased equipment and these costs were incurred:
Cash price $65000
Sales taxes 4100
Insurance during transit 700
Installation and testing 950
Total costs $70750
Crane will record the acquisition cost of the equipment as
A) $65000.
B) $69800.
C) $70750.
D) $69100.
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