On January 1, 2017 Nike Company purchased equipment for $30,000, paid $2,000 transit insurance, $1,500 for heavy vehicles driving license and $3,000 for testing fees. The cost of the equipment is: $32,000 $33,500 $36,500 $35,000 None of the above On January 1, 2017 the journal entry to record the acquisition of the equipment will include: * Debit Accumulated Depreciation