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On August 1, Red Company purchased computer equipment for $11,400 cash and also gave 100 shares of White common stock held by Red Company as
On August 1, Red Company purchased computer equipment for $11,400 cash and also gave 100 shares of White common stock held by Red Company as an investment. The White common stock cost Red Company $5,000 and on August 1 had a fair value of $4,550. The installation costs for the computer equipment were $840 and shipping costs were $640. What amount should be the total amount debited to the computer equipment account?
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