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On August 1, Red Company purchased computer equipment for $11,600 cash and also gave 100 shares of White common stock that Red Company held as
On August 1, Red Company purchased computer equipment for $11,600 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 $4,600. The installation costs for the computer equipment were $860 and shipping costs were $660. What amount should be the total amount debited to the computer equipment account? O $16,200. O $16,600 O $18,120 $17,720
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