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Albemarle Company purchased an asset with a list price of $70,000 and received a 2% cash discount on the purchase. The a
Posted: Fri Jul 01, 2022 8:26 am
by answerhappygod
- Albemarle Company Purchased An Asset With A List Price Of 70 000 And Received A 2 Cash Discount On The Purchase The A 1 (27.14 KiB) Viewed 41 times
Albemarle
Company purchased an asset with a list price of $70,000 and received a 2% cash discount on the purchase. The asset was delivered under terms FOB shipping point, and freight costs amounted to $1,400. Albemarle paid $1,600 to have the asset installed. Insurance costs to protect the asset from fire and theft amounted to $800 for the first year of operations. Based on this information, the amount of cost recorded in the asset account would be: $70,600. $70,000. OC. $72,800. O d. $73,000. O a O b. -1.610.00 S