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On 7/20, VL Company purchased an item of equipment for a cash price of $5,000. Additional payments were made as follows: Freight charges for the
On 7/20, VL Company purchased an item of equipment for a cash price of $5,000. Additional payments were made as follows: Freight charges for the delivery of the equipment $700 Installation charges Sales taxes paid on the transaction 120 What is the cost of the equipment recorded in the company's equipment account? 40 05.55.000 6.55.700 c. 55860 0.55820 O $5.00
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