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Kisachek [45]
3 years ago
14

Novak Company purchased Machine #201 on May 1, 2020. The following information relating to Machine #201 was gathered at the end

of May. Price $127,500 Credit terms 2/10, n/30 Freight-in $ 1,200 Preparation and installation costs $ 5,700 Labor costs during regular production operations $15,750 It is expected that the machine could be used for 10 years, after which the salvage value would be zero. Novak intends to use the machine for only 8 years, however, after which it expects to be able to sell it for $2,250. The invoice for Machine #201 was paid May 5, 2020. Novak uses the calendar year as the basis for the preparation of financial statements.
Business
1 answer:
blondinia [14]3 years ago
5 0

Answer:

i am stuck as well

Explanation:

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