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On 1/1, the CIF Farm bought equipment by paying $7,000 cash. They also incurred a...

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Accounting

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On 1/1, the CIF Farm bought equipment by paying $7,000 cash. They also incurred a freight and taxes of $809 to get the equipment to their farm. The market value of this equipment is $11,000. What amount should be recorded in the equipment account on 1/1? Fill in the blank with your calculated number. DO NOT include commas, $ signs, period, decimal points, etc., just enter the raw number. Webcourses will add commas to your answer automatically For example, if you calculated the answer to be $24,123, you would only input: 24123

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