R.J.Berkshire incurred the following expenditures to buy new equipment:
$\begin{array} { l l }
\text { Invoice, subject to 3\% dircount } & \$ 25,000 \
\text { Installation cost } & 1,800 \
\text { Insurance for equipment after installation } & 500 \
\text { 5ales tax } & 1,500
\end{array}$ Discount taken
The amount the Equipment account will be debited for is ________.

Question

R.J.Berkshire incurred the following expenditures to buy new equipment:
 $\begin{array} { l l } 
\text { Invoice, subject to 3\% dircount } & \$ 25,000 \
\text { Installation cost } & 1,800 \
\text { Insurance for equipment after installation } & 500 \
\text { 5ales tax } & 1,500
\end{array}$ Discount taken
The amount the Equipment account will be debited for is ________.

Quizplus · Accepted Answer

The Answer is $27,550 (25000 × .97)+ 1800 + 1500

RJBerkshire Incurred the Following Expenditures to Buy New Equipment Discount Taken the Amount the Equipment Account Will Be Debited

RJBerkshire Incurred the Following Expenditures to Buy New Equipment Discount Taken
the Amount the Equipment Account Will Be Debited