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Journey Company purchased equipment and incurred these costs: Cash price $24,000 Sales taxes $1,200 Transportation charges: $50 Insurance during transit $ 200 Installation and testing
Journey Company purchased equipment and incurred these costs: Cash price $24,000 Sales taxes $1,200 Transportation charges: $50 Insurance during transit $ 200 Installation and testing $400 Hiring of employee to operate the machine: $50,000/year Liability Insurance for the first year: $850 What amount should be recorded for the cost of the equipment? $25,850 $26,700 $25,450 $76,700
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Introduction To Management Accounting
Authors: Charles T. Horngren, Gary Sundum, Gary L. Sundem
8th Edition
0134870751, 978-0134870755
