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Santa Rosa recently purchased a new boat to help ship product overseas. The following information is related to that purchase: Purchase price $4,500,000 Cost to bring boat to production facility $25,000 Yearly insurance cost $25,000 Annual maintenance cost of $37,000 Received 8% discount on sales price Question Content Area A. Determine the acquisition cost of the boat. $fill in the blank da86db044053008_1   Question Content Area B. Record the journal entry needed. If an amount box does not require an entry, leave it blank. blank   Accounts Receivable Accounts Receivable     Patent Patent

Santa Rosa recently purchased a new boat to help ship product overseas. The following information is related to that purchase: Purchase price $4,500,000 Cost to bring boat to production facility $25,000 Yearly insurance cost $25,000 Annual maintenance cost of $37,000 Received 8% discount on sales price Question Content Area A. Determine the acquisition cost of the boat. $fill in the blank da86db044053008_1   Question Content Area B. Record the journal entry needed. If an amount box does not require an entry, leave it blank. blank   Accounts Receivable Accounts Receivable     Patent Patent

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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Question Content Area

Santa Rosa recently purchased a new boat to help ship product overseas. The following information is related to that purchase:

  • Purchase price $4,500,000
  • Cost to bring boat to production facility $25,000
  • Yearly insurance cost $25,000
  • Annual maintenance cost of $37,000
  • Received 8% discount on sales price

Question Content Area

A. Determine the acquisition cost of the boat.

$fill in the blank da86db044053008_1

 

Question Content Area

B. Record the journal entry needed. If an amount box does not require an entry, leave it blank.

blank
 
 Accounts Receivable Accounts Receivable
 
 
 Patent Patent
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