A company purchased equipment on July 3 of the current year and placed it in service on August 1.The following costs were incurred in acquiring the equipment:
Determine the amount to be recorded as cost for the equipment.

Question

A company purchased equipment on July 3 of the current year and placed it in service on August 1.The following costs were incurred in acquiring the equipment:
  Determine the amount to be recorded as cost for the equipment.

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The Answer of A company purchased equipment on July 3 of the current year and placed it in service on August 1.The following costs were incurred in acquiring the equipment:
  Determine the amount to be recorded as cost for the equipment.

A Company Purchased Equipment on July 3 of the Current