Business, 12.12.2019 01:31 lillianradecki

On august 1, 2017, mendez corporation purchased a new machine on a deferred payment basis. a down payment of $4,000 was made and 4 annual installments of $24,000 each are to be made beginning on september 1, 2017. the cash equivalent price of the machine was $92,000. due to an employee strike, mendez could not install the machine immediately, and thus incurred $1,200 of storage costs. costs of installation (excluding the storage costs) amounted to $3,200. the amount to be capitalized as the cost of the machine is

$92,000.

$95,200.

$96,400.

$104,000.

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On august 1, 2017, mendez corporation purchased a new machine on a deferred payment basis. a down pa...

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