A new machine was acquired by JR that had a quoted price of $6,000. JR paid $1,500 cash and transferred 100 shares common shares (current market value, $40 per share, based on several recent large trading transactions.). Other payments related to the acquisition were: transportation, $150; provincial sales tax, $50, and installation costs, $200. The asset account should be debited for $___________________.

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The Answer of A new machine was acquired by JR that had a quoted price of $6,000. JR paid $1,500 cash and transferred 100 shares common shares (current market value, $40 per share, based on several recent large trading transactions.). Other payments related to the acquisition were: transportation, $150; provincial sales tax, $50, and installation costs, $200. The asset account should be debited for $___________________.

A New Machine Was Acquired by JR That Had a Quoted