Hi! I'm stuck with this Qs. As I can't upload more than 1 Qs, this is one of the Qs I have.

May I know how to solve this question? Thank you in advance.

On 1 May 2020, Ron Trading purchased a new machine. The following payments relate to the machine. List price $21,500 Purchase discount 2.000 Transportation cost 300 Repair of damage parts incurred in transporting the machine 1,000 Fees paid to test the machine before use 500 Fees paid to the installer to install the machine 800 Machine operator's salary for the first month of operation 3,000 Maintenance costs for the first month of operation 300 (i) Identify and compute the cost of the machine to be recognised. Explain your reasoning.Journalise the transactions. Assume the above payments are paid in cash