Point Company paid $4,000 cash to purchase a new machine. The company also paid $500 cash for an initial training cost that was necessary to teach an employee how to operate the machine. Which of the following represents the journal entry that would be necessary to record all capitalized costs related to the purchase of the machine?debit machine (4500), credit cash (4500)
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Point Company paid $4,000 cash to purchase a new machine. The company also paid $500 cash for an ini...
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