Orion Flour Mills purchased a new machine and made the
following expenditures:
Purchase price $75,000
Sales tax 6,000
Shipment of machine 1,000
Insurance on the
machine for the first year 700
Installation of
machine 2,000
The machine, including sales tax, was purchased on account,
with payment due in 30 days. The other expenditures listed above were paid in
cash.
Required:
Record the above expenditures for the new machine.
Contact Us Below To Get Tutoring
Contact Us Below To Get Tutoring
