Question: A company bought a machine for U S 50 000 on January
A company bought a machine for U.S. $50,000 on January 1, 2013. The machine is to be delivered in one week and is payable upon receipt of the machine. The company has not yet paid for the machine. It is now January 15, 2013, and the company must present a financial statement. What would be reflected on the financial statements regarding this transaction?
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