Corazon Company purchased an asset with a list price of $16,000. Corazon paid $1,000 of...
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Corazon Company purchased an asset with a list price of $16,000. Corazon paid $1,000 of transportation-in cost, $1,300 to train an employee to operate the equipment, and $700 to insure the asset against theft after it has been set up in the factory. The asset was purchased under terms 1/20, n/30 and Corazon paid for the asset within the discount period. Based on this information, Corazon would capitalize the asset on its books at:
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