Storm corporation purchased a new machine on october 31, 2020. a $4,800 down payment was made and three monthly installments of $14,400 each are to be made beginning on november 30, 2020. the cash price would have been $46,400. storm paid no installation charges under the monthly payment plan but an $800 installation charge would have been incurred with a cash purchase. the amount to be capitalized as the cost of the machine on october 31, 2020 would be
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Storm corporation purchased a new machine on october 31, 2020. a $4,800 down payment was made and th...
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