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On March 1, Bunker Hill Company purchased a new stamping machine with a list price of $78,000. The company paid cash for the machine; therefore,
On March 1, Bunker Hill Company purchased a new stamping machine with a list price of $78,000. The company paid cash for the machine; therefore, it was allowed a 5% discount. Other costs associated with the machine were: transportation costs, $2,100; sales tax paid, $4,720; installation costs, $1,400; routine maintenance during the first month of operation, $2,000. The cost recorded for the machine was:
$80,920. | |
$74,100. | |
$82,320. | |
$84,320. |
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