Dan Company recently acquired two items of equipment. The transactions are described below: June 10: Acquired a press at an invoice price of $6,500,subject to a 2% cash discount which was taken. Costs of freight and insurance during shipment were $205.Installation costs were $350. November 12: Acquired a welding machine at an invoice price of $4,000,subject to a 4% cash discount which was NOT taken. Additional welding supplies were acquired at a total cost of $300. The increase in the equipment account as a result of the above transactions would be 

A)$10,525 

B)$10,720 

C)$10,925 

D)$11,225

Answer rating: 100% (QA)

The problem is basically asking for the capitalizable costs of the equipment purchased It includes t... View the full answer