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Business, 05.05.2020 19:31 emmeaw245

Anchor Company purchased a manufacturing machine with a list price of $84,000 and received a 2% cash discount on the purchase. The machine was delivered under terms FOB shipping point, and freight costs amounted to $2,000. Anchor paid $2,700 to have the machine installed and tested. Insurance costs to protect the asset from fire and theft amounted to $3,400 for the first year of operations. Based on this information, the amount of cost recorded in the asset account would be:

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