Dan Company recently acquired two items of equipment. The transactions are described below: June 10: Acquired a press at an invoice price of $6,500, subject to a 2% cash discount which was taken. Costs of freight and insurance during shipment were $205. Installation costs were $350. November 12: Acquired a welding machine at an invoice price of $4,000, subject to a 4% cash discount which was NOT taken. Additional welding supplies were acquired at a total cost of $300. The increase in the equipment account as a result of the above transactions would be