Thermomix Company purchased equipment for $400 cash. Related expenditures were sales taxes $40, insurance during transit $30, oil for testing $20, one-year insurance policy $500, freight charges during transit $10, and $200 on oil to be used by the equipment in the first year. All costs are paid for cash. The cost of the equipment is: * $1,000 $500 $200 $100 None of the above Journal entry for the acquisition of equipment will include: * Debit Cash and Credit Equipment. Credit Cash and Credit Equipment. Credit Cash and Debit Equipment. Debit Equipment and Credit Accounts Payable. Debit Equipment and Credit Accounts Receivables