Bargain Basement Shopping Corporation purchased new credit card equipment. The invoice price of the equipment was $25,000.

Question:

Bargain Basement Shopping Corporation purchased new credit card equipment. The invoice price of the equipment was $25,000. Bargain also had the following expenses associated with purchasing this equipment:

Shipping and delivery insurance ........ $1,750

Staff training to use new equipment ......3,175

Electricity costs the first year......... 125

What amount should Bargain record on the books for this equipment?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...