Do canadian quarters work in american vending machines
1 answer:
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Answer:
The correct answer is $18920.
Explanation:
Boone Company purchased a piece of machinery by paying $18,000 cash.
In addition to the purchase price, the company incurred $800 freight charges.
Estimated useful life of the machine is 5 years and will require $600 for insurance over that period.
So insurance money for a year = $ ( ) = $120.
Boone Company would record the cost of the machine at $ ( 18000+ 800+ 120) = $ 18920.