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Find amount to be capitalized as the cost of the machine

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Question 1: Storm Corporation purchased a new machine on October 31, 2016. A P1,200 down payment was made and three monthly installments of P3,600 each are to be made beginning on November 30, 2016. The cash price would have been P11,600. Storm paid no installation charges under the monthly payment plan but a P200 installation charge would have been incurred with a cash purchase. The amount to be capitalized as the cost of the machine on October 31, 2016 would be

Select one:

Option a. P11,600.

Option b. P12,000.

Option c. P11,800.

Option d. P12,200.

Reference no: EM132568007

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