Question
On 7/20, VL Company purchased an item of equiptment for a cash price of $5,000. Additional payments were made as follows: Freight charges for delivery
On 7/20, VL Company purchased an item of equiptment for a cash price of $5,000.
Additional payments were made as follows:
Freight charges for delivery of the equiptment: $700
Installation charges of: $120
Sales taxes paid on the transaction: $40
What is the cost of equiptment recorded in the company's equiptment account?
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Auditing As Preventive Measure Of Future Financial Crisis Internal Control System Possibilities And Dangers
Authors: Muhammed Zakir Hossain
1st Edition
365918781X, 978-3659187810
