On March 1, Bartholomew Company purchased a new stamping machine with a list price of...
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On March 1, Bartholomew Company purchased a new stamping machine with a list price of $88,000. The company paid cash for the machine; therefore, it was allowed a 5% discount. Other costs associated with the machine were: transportation costs, $3,100; sales tax paid, $6,720; installation costs, $1,900; routine maintenance during the first month of operation, $3,000. The cost recorded for the machine was:
