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To illustrate, assume Kimble Inc. purchased equipment for $12,000. Freight costs of $600 were incurred to transport the equipment to the installation site. On
To illustrate, assume Kimble Inc. purchased equipment for $12,000. Freight costs of $600 were incurred to transport the equipment to the installation site. On site, installation costs of $1,500 were incurred, including $500 due to an error in installation. The journal entry to record the equipment is as follows:
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Intermediate Accounting Reporting and Analysis
Authors: James M. Wahlen, Jefferson P. Jones, Donald Pagach
1st edition
1111822360, 978-1337116619, 1337116610, 978-1111822378, 1111822379, 978-1111822361
