Cullumber Company purchased equipment and these costs were incurred: Cash price $71000 Sales taxes 2700 Insurance during transit 800 Installation and testing 850 Total costs $75350 Cullumber will...

Cullumber Company purchased equipment and these costs were incurred:

Cash price	$71000
Sales taxes	2700
Insurance during transit	800
Installation and testing	850
Total costs	$75350

Cullumber will record the acquisition cost of the equipment as

$74500.

$73700.

$75350.

$71000.

Jun 01, 2022

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