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Record the acquisition cost of the machine

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Question - Marburg Manufacturing Company purchased a machine on January 2, 20x2. The invoice price of the machine was ?40,000, and the vendor offered a 2 percent discount for payment within ten days. The following additional costs were incurred in connection with the machine: Transportation-in - 1,200; Installation cost - 700; Testing costs prior to regular operation - 550. If the invoice is paid within the discount period, Marburg should record the acquisition cost of the machine at?

Reference no: EM132626671

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