On January 9, 2018, Ice Breaker Company paid $245,000 Cash for a computer system. In...
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Accounting
On January 9, 2018, Ice Breaker Company paid $245,000 Cash for a computer system. In addition to the basic purchase price, the company paid a setup fee of $800,sales tax of $6,400, and $27,800 for a special platform on which to place the computer. Ice Breakers management estimates that the computer will remain in service for five years and have a residual value of $20,000. If rounding is necessary, use two decimal places.
What is the journal entry to record the purchase of the computer system?
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You can see the logs in the Dashboard.