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April 19, 2014

Homework Help: Math

Posted by Bobbi Loffredo on Saturday, April 2, 2011 at 4:39pm.

Oaktree Company purchased a new machine and made the following expenditures:

Purchase price $45,000
Sales tax 2,200
Freight charges
for shipment of machine 700
Insurance on the machine
for the first year 900
Installation of machine 1,000

The machine, including sales tax, was purchased on open account, with payment due in 30 days. The other expenditures listed above were paid in cash.

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