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D&D Company paid $20,500 to acquire a 100 ton press. Freight charges to deliver the...

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Accounting

D&D Company paid $20,500 to acquire a 100 ton press. Freight charges to deliver the equipment amounted to $1,700 and were paid by S&D. Installation costs amounted to $870, and machine testing charges amounted to $450.

What amount should be capitalized to the Equipment account?

Choose one:

A. $23,520

B. $20,500

C. $22,500

D. $12,500

Answer & Explanation Solved by verified expert
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