K. Marie Company used cash to purchase a stamping machine. The retail price on the machine is

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K. Marie Company used cash to purchase a stamping machine. The retail price on the machine is $62,000, but the company received a 1.5% discount. It also paid $3,850 in sales tax for the purchase. Make the necessary journal entry to record this transaction.

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Accounting concepts and applications

ISBN: 978-0538745482

11th Edition

Authors: Albrecht Stice, Stice Swain

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