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get back to me quick please. thank you 4) Jersey Corporation purchased a new machine on October 31, 2020. A $5,000 down payment was made
get back to me quick please. thank you
4) Jersey Corporation purchased a new machine on October 31, 2020. A $5,000 down payment was made and three-monthly installments of $15,000 each are to be made beginning on November 30, 2020. The cash price would have been $42,000. Jersey paid no installation charges under the monthly payment plan but an $2,000 installation charge would have been incurred with a cash purchase. The amount to be capitalized as the cost of the machine on October 31, 2020 would be Step by Step Solution
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