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On March 1, Wright Company purchased new equipment for $60,000 by paying cash. Other costs associated with the equipment were: transportation costs, $3,000; sales tax
On March 1, Wright Company purchased new equipment for $60,000 by paying cash. Other costs associated with the equipment were: transportation costs, $3,000; sales tax paid $5,000; and installation cost, $4,500. At what amount will the equipment be recorded on a balance sheet?
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Management And Cost Accounting
Authors: Charles T. Horngren, George Foster, Srikant M. Datar
3rd Edition
