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Question 20 2 pts Emmitt Company purchased a machine worth P 700,000, less 3% cash discount. The company likewise incurred P 45,000 for installation, P

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Question 20 2 pts Emmitt Company purchased a machine worth P 700,000, less 3% cash discount. The company likewise incurred P 45,000 for installation, P 20,000 for testing and P 7,500 for insurance to bring the machine into its intended use. Ordinary repairs related to the machine was P3,500. Assuming the cash discount was not taken by Emmitt, determine the total acquisition cost of the machine

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