Record the given expenditures for the new machine

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Reference no: EM131521212

Question: Orion Flour Mills purchased a new machine and made the following expenditures:

Purchase price $65,000

Sales tax 5,500

Shipment of machine 900

Insurance on the machine for the first year 600

Installation of machine 1,800

The machine, including sales tax, was purchased on account, with payment due in 30 days. The other expenditures listed above were paid in cash.

Required: Record the above expenditures for the new machine.

Reference no: EM131521212

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