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On August 28, 2016, Saturn Drilling Services purchased a machine with a contract price of...

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Accounting

On August 28, 2016, Saturn Drilling Services purchased a machine with a contract price of $400,000 and cash terms of 2/10, n/30. The company paid $8,000 in transportation costs and $8,000 for installation. Sales taxes of $22,000 were paid on the invoice amount. The machine should be recorded as a plant asset in the amount of...

A). $428,000

B). $422,000

C). $430,000

D). $400,000

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