Business, 17.03.2020 01:34 ciarapacheco

Anchor Company purchased a manufacturing machine with a list price of $82,000 and received a 2% cash discount on the purchase. The machine was delivered under terms FOB shipping point, and freight costs amounted to $1,600. Anchor paid $2,100 to have the machine installed and tested. Insurance costs to protect the asset from fire and theft amounted to $2,600 for the first year of operations. Based on this information, the amount of cost recorded in the asset account would be:

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Anchor Company purchased a manufacturing machine with a list price of $82,000 and received a 2% cash...