Upton company purchased equipment on january 1 at a list, Ask an Expert

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Upton Company purchased equipment on January 1 at a list price of $50,000, with credit terms 2/10, n/30. Payment was made within the discount period. Upton paid $2,500 sales tax on the equipment, and paid installation charges of $880. Prior to installation, Upton paid $2,000 to pour a concrete slab on which to place the equipment. What is the total cost of the new equipment?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M991848

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