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Current Attempt in Progress Equipment was purchased for $84000 on January 2, 2022. Freight charges amounted to $3000 and there was a cost of $11000

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Current Attempt in Progress Equipment was purchased for $84000 on January 2, 2022. Freight charges amounted to $3000 and there was a cost of $11000 for building a foundation and installing the equipment. The company purchased a special insurance policy for the equipment with a monthly premium of $500. Use the following tabula analysis to record these expenditures assuming that all payments were made in Cash Assets Llabilities + Stockholders' Equity Common Retained Earnings + Stock +Rev. - Exp. - Div. Accumulated Cash + Equipment - Depreciation - Jan 2 Increase Equipment $84000 and decrease Cash $84000 Increase Equipment $98000, increase Insurance Expense $500, and decrease Cash 598500 Increase Equipment $84000, decrease Accumulated Depreciation $14000, increase Insurance Expense $500 and decrease Cash $84500 Increase Equipment S95000, increase Freight Expense $3000, increase Insurance Expense $500 and decrease Cash $98500

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