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Aspen Company purchased machinery on June 15 for cash. The…
Aspen Company purchased machinery on June 15 for cash. The purchase price was $50,000, sales tax was $5,000, freight costs were $1,000, and installation costs were $3,000. The installation included cost of $500 to repair the equipment which was damaged during installation. What would be the effect of the transaction on the accounting equation?
Aspen Company purchased machinery on June 15 for cash. The…
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Aspen Cоmpаny purchаsed mаchinery оn June 15 fоr cash. The purchase price was $50,000, sales tax was $5,000, freight costs were $1,000, and installation costs were $3,000. The installation included cost of $500 to repair the equipment which was damaged during installation. What would be the effect of the transaction on the accounting equation?
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