Paid 287600 cash plus 11500 in sales tax and 1500 in , Ask an Expert

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Paid $287,600 cash plus $11,500 in sales tax and $1,500 in transportation (FOB shipping point) for a new loader. The loader is estimated to have a four-year life and a $20,600 salvage value. Loader costs are recorded in the Equipment account. What is the journal Entry?

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