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Business, 17.01.2020 19:31 ajj3233

Anchor company purchased a manufacturing machine with a list price of $86,000 and received a 2% cash discount on the purchase. the machine was delivered under terms fob shipping point, and freight costs amounted to $2,400. anchor paid $3,300 to have the machine installed and tested. insurance costs to protect the asset from fire and theft amounted to $4,200 for the first year of operations.

based on this information, the amount of cost recorded in the asset account would be:

a)$86,680

b)$84,280.

c)$94180

d)$89,980

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