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Tanzania [10]
3 years ago
10

Wiley company purchased new equipment for $60,000. wiley paid cash for the equipment. other costs associated with the equipment

were: transportation costs, $1,000; sales tax paid $3,000; and installation cost, $2,500. the cost recorded for the equipment was:
Business
1 answer:
Colt1911 [192]3 years ago
6 0
The total cost of equipment that should be recorded is calculated by adding up all the given values in this item. The costs include equipment cost, transportation cost, tax, and installation cost. Adding up all the values,

     TC = ($60,000) + ($1,000) + ($3,000) + ($2,500)
               TC = $66,500

ANSWER: TC = $66,500
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Sandusky Company borrowed $28,000 from the Lakeside Bank by issuing a 10% three-year installment note. Sandusky agreed to repay
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the amount of the interest expense associated with the second payment would be $1,954

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