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What amount should be recorded as the cost of the equipment

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Reference no: EM133124557

Question - Corrieten Company purchased equipment and incurred these costs:

Cash price $24,000

Sales taxes 1,200

Insurance during transit 200

Installation and testing 400

Total costs $25,800

Required - What amount should be recorded as the cost of the equipment?

1. $24,000.

2. $25,200.

3. $25,400.

4. $25,800.

Reference no: EM133124557

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