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Bridgestone Holdings acquired machinery for $48,500. The sales tax on the purchase amounted to $3,150. Additional costs included freight charges of $850, repairs of $500 due to damage during installation, and installation costs of $925. What is the total cost of the machinery? a. $48,500 b. $52,500 c. $53,425 d. $54,925

Bridgestone Holdings acquired machinery for $48,500. The sales tax on the purchase amounted to $3,150. Additional costs included freight charges of $850, repairs of $500 due to damage during installation, and installation costs of $925. What is the total cost of the machinery? a. $48,500 b. $52,500 c. $53,425 d. $54,925

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Please explain the solution to this general accounting problem with accurate principles.

Bridgestone Holdings acquired machinery for $48,500. The sales tax on the purchase amounted to $3,150. Additional costs included freight charges of $850, repairs of $500 due to damage during installation, and installation costs of $925. What is the total cost of the machinery? a. $48,500 b. $52,500 c. $53,425 d. $54,925
Transcribed Image Text:Bridgestone Holdings acquired machinery for $48,500. The sales tax on the purchase amounted to $3,150. Additional costs included freight charges of $850, repairs of $500 due to damage during installation, and installation costs of $925. What is the total cost of the machinery? a. $48,500 b. $52,500 c. $53,425 d. $54,925
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