On diaar 1 ter 1 . ASC Congany purchaxed a picce of ecupned with a fit price of 5100000 . The seler aszed to allow a 2.5 bicaurt. Ddiver tems nere FOB shippirs point and fregh amounted to $1.500. AEC had to hive a specialist for $5,000 to setip the respmet. The equibnert cperator was paid a salyy of SH0,000 in Voar 1. ABC took out two insurance policies. ne tant cost 53.000 and coverd the equment dinits tansport while the other cost S10.000 and coverd the equipment dirnsuse nowphout Yer 1. The equionent had a 7 yerr usehl Le and an epected salvage value of 512000 All costs are paid incoch Deromine be amant to be opibled in an asset account for the purchase of the equipment 5sin ratoos 5007500 fistax