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On August 1, Red Company purchased computer equipment for $10, 200 cash and also gave 100 shares of White common stock that Red Company held
On August 1, Red Company purchased computer equipment for $10, 200 cash and also gave 100 shares of White common stock that Red Company held as an investment. The White common stock cost Red Company $5,000 and on August 1 had a fair value of $4, 250. The installation costs for the computer equipment were $720 and shipping costs were $520. What amount should be the total amount debited to the computer equipment account? $14, 450. $16, 440. $15, 690. $15, 200
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