Richardson Co. acquires machinery by paying $10,000 cash. Richardson purchased a similar machine last month for $13,500.

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Richardson Co. acquires machinery by paying $10,000 cash. Richardson purchased a similar machine last month for $13,500. At what cost should the new equipment be recorded?

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Intermediate Accounting principles and analysis

ISBN: 978-0471737933

2nd Edition

Authors: Terry d. Warfield, jerry j. weygandt, Donald e. kieso

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Question Posted: May 16, 2012 07:41 AM

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Richardson Co. acquires machinery by paying $10,000 cash. Richardson purchased a similar machine last month for $13,500.

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Intermediate Accounting principles and analysis

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